Libya Awards First Oil Blocks Since 2007 to Chevron, Eni

Libya on Wednesday awarded oil and gas exploration blocks to foreign oil companies, including Chevron, Eni, QatarEnergy and Repsol, in its first licensing round in nearly two decades as it seeks to revitalise the sector despite ongoing political division.

The National Oil Corporation (NOC) announced the winners of its first bid round since 2007, allocating key acreage across the onshore Sirte and Murzuq basins and offshore blocks in the Sirte basin of the gas-rich Mediterranean.

The awards signal renewed interest as foreign investors have been wary for years of Libya's operating environment, after it descended into chaos following the 2011 overthrow of longtime ruler Muammar Gaddafi.

The country remains politically divided between rival administrations in the east and west, and disputes over the central bank and oil revenues frequently lead to force majeure declarations at key oil fields.

The licensing round, in which five of 20 blocks on offer were awarded, follows a 25-year oil development deal last month with France's TotalEnergies and ConocoPhillips.

Differences over drilling commitments and participation stakes meant several blocks were not awarded in the latest licensing round, National Oil Corporation Chairman Massoud Suleman told reporters. He said that the results would be used to improve future