Libya has officially announced its first oil and gas licensing in 17 years, offering 22 areas for international auction. 

The selected offshore areas appear to respect the Greek Exclusive Economic Zone (EEZ), despite Libya’s agreements with Turkey under the controversial “Turkish-Libyan Memorandum”. 

This development suggests that Libya is indirectly recognising Greek claims under international law rather than aligning itself with Turkey’s “Mavi Vatan” maritime strategy. 

The National Oil Company of Libya (NOC) announced the new licensing round on 3 March 2025, covering key areas rich in oil and hydrocarbons. 

The Libyan National Oil Corporation (NOC) is leading the Libya Bid Round on behalf of the government. #2025bidroundLY

According to the NOC, the bid round includes 11 onshore blocks in the Gadames, Murzuq, and Sirte regions, as well as 11 offshore blocks in the Sirte, Sabratah, and Cyrenaica offshore areas, covering a total of 128,714 square kilometres. These areas include seven exploration zones and 32 wells.

These blocks contain untapped resources and are situated close to existing infrastructure, facilitating cost-effective exploration and production.

Libya’s decision to respect the Greek EEZ can be interpreted as a strategic move to attract European energy investors, particularly as the EU seeks to diversify energy sources. 

Positioned as a key link between Sub-Saharan Africa and Europe, Libya aims to leverage its geographical advantage to reassert itself on the global energy map. This approach may antagonise Turkey, which does not recognise the EEZ of the Greek islands.

Finally, the African Energy Chamber has ranked Libya among the sector’s most significant markets for 2025. 

Also read: Turkey – Libya | Agreement grants Turkish armed forces expansive operational freedoms and legal immunity