Nigeria’s independent energy firm, Aieto, has been awarded an exploration licence in a Libyan oil block following the close of the country’s 2025 upstream bid round.
The award was announced by Libya’s National Oil Corporation, NOC, during a ceremony in Tripoli, the country’s capital.
In a statement at the close of the round on Tuesday, NOC said five blocks were awarded to international energy companies from North America, Europe, Africa and the Middle East.
The 2025 exercise is Libya’s first upstream licensing round in nearly two decades.
Aieto is the first Nigeria oil firm to win a licensing bid in Libya.
The NOC described the outcome as “not excellent, but very good,” and stated that it would review the process before launching another round.
Most of the 22 blocks on offer did not receive eligible bids, despite interest from dozens of prequalified companies.
Libya is seeking to rebuild investor confidence after years of political division and security concerns that disrupted oil production.
The bid round was launched in March 2025 as part of efforts to revive upstream activity and attract new capital into the sector.
What Aieto’s entry means
Nigeria Aieto is a mid-tier independent oil company operating in Nigeria’s upstream sector. The firm recently secured an oil block in Mozambique, expanding its presence across African energy markets.
Its award in Libya adds to that regional footprint and places it among a select group of companies granted new exploration acreage in the country.
The move aligns with a broader trend of African independents seeking assets beyond their home markets.
Why Libya reopened bidding after 18 years
Libya holds Africa’s largest proven oil reserves and has long relied on crude exports for state revenue. However, output has fluctuated sharply over the past decade due to conflict, blockades and underinvestment.
By reopening competitive bidding for exploration blocks, the NOC is signalling that the country’s upstream sector is open for new partnerships. The corporation has set a target of raising national oil production from 1.4 million bdp to 2 million bdp by 2030.
In addition to the licensing round, several international oil companies have signed agreements over the past year to re enter Libya or expand existing operations. These include direct negotiations with the NOC outside the formal bidding process.
NOC officials stated that the round was intended to demonstrate that Libya is ready for structured and transparent engagement with foreign investors. The corporation added that further licensing opportunities could be announced after an internal review.
What you should know
Libya’s geology remains attractive to exploration companies due to its light, sweet crude and relatively low production costs compared to other regions.
The NOC has maintained that while risks exist, the country’s resource base continues to draw interest.
Despite the limited number of awards, the licensing round brings new entrants into Libya’s upstream sector for the first time since 2007.
It also comes as global energy companies reassess portfolio strategies and seek opportunities in established hydrocarbon provinces.
The NOC stated that it would study feedback from participants and adjust terms where necessary before launching another bid round. Therefore, further awards may follow as Libya works towards its 2030 production target.
