Chevron, Eni Among Winners of First Libya Oil Auction Since 2007

Chevron Corp., Eni SpA, QatarEnergy and Repsol SA were among major energy companies that won rights to explore for oil and gas in Libya, the latest sign that the nation that holds Africa’s largest crude reserves is opening up for investments following years of civil war.

The country’s state-owned National Oil Corp. announced the results of the auction for blocks both on land and out in water in the first tender of licenses since 2007. Of the 20 exploration blocks that were offered, only five received valid bids, and officials pledged to make improvements for the next bidding round.