Libya’s first oil licensing round in more than 17 years, launched by the National Oil Corporation (NOC) in March 2025, was meant to signal the country’s upstream comeback after more than a decade of war and fragmentation. The round offered 22 onshore and offshore blocks, including 19 undeveloped discoveries, and drew strong early interest: 44 companies and one consortium applied, with 37 pre-qualified by July. Established players such as Eni, TotalEnergies, BP, Repsol and OMV were joined by a wide range of international entrants, from…