By:Zawya

Libya’s latest upstream licensing round has already attracted more than 40 applicants, according to Abdolkabir Alfakhry, Advisor to Libya’s Minister of Oil and Gas.

Speaking at the Invest in African Energy Forum in Paris on Wednesday, he said the bid round signals Libya’s integration into the global energy market.

Libya’s launched its first international upstream licensing round in 18 years in March 2025 offering 22 onshore and offshore blocks. The country is targeting 2 million barrels per day (bpd) by 2028.

Speaking at the same forum, Steiner Vage, President for Europe, the Middle East and Africa at ConocoPhillips said the US major sees huge potential in Libya, where it is currently operating the Waha concession, and Equatorial Guinea.

“We see a future in Equatorial Guinea in terms of stranded assets and getting more gas,” he said. “The country needs more gas to keep its facilities and sustain production. There’s a good opportunity to do more.”