Libya looks to boost oil production amid growing geopolitical tensions

According to reporting by OilPrice.com this year Libya plans to offer 22 exploration blocks, attracting international oil companies (IOCs) such as Repsol, ENI, BP, and OMV. Based on the potential tender by the Libyan National Oil Company (NOC) expectations are high that IOCs are returning. Interest in Libya is already growing, as evidenced by Spain’s Repsol, which is drilling its first exploration well. The main driver behind the IOC push is a security guarantee provided by the Libyan National Army (LNA) and NOC.