Libya: Tender for 22 Onshore and Offshore oil exploration blocks
The National Oil Corporation (NOC) of Libya, through its technical Committee, announced the launch of a public tender offering 22 new onshore and offshore exploration blocks to international oil companies.
This initiative is part of Libya’s strategy to attract foreign investment and expand its energy sector. The announcement was made during the eleventh meeting of the Supreme Council for Energy and Water Affairs, held at the NOC headquarters in Tripoli and chaired by Prime Minister Abdul Hamid Dbeibah of the Government of National Unity.
According to the “Hakomitna” media platform, the meeting addressed critical issues across Libya’s oil, gas, electricity, and water sectors. Discussions included finalizing preparations for the public tender, resolving the operational status of the Ras Lanuf refinery after the departure of a foreign partner, and approving the NOC’s acquisition of the foreign partner’s share. Additionally, plans to implement the Great Tripoli Reservoir project, overseen by the Man-Made River Project Implementation and Management Authority, were reviewed.
Farhat Bengdara, NOC Chairman and member of the Supreme Council for Energy Affairs, presented updates on the public tender process. He outlined the completion of a procedural manual and a revised standard exploration agreement, incorporating technical amendments designed to attract international bidders.
The NOC’s technical departments reported on the progress of their production enhancement initiatives, confirming adherence to approved timelines. Libya’s oil and condensate production has reached 1.422 million barrels per day.
This ambitious plan underscores Libya’s commitment to revitalizing its energy sector while addressing broader development goals, including infrastructure improvements and resource management.
This initiative represents a pivotal step in Libya’s efforts to bolster its energy sector and attract foreign investment, ensuring the nation’s oil and gas resources contribute to its economic growth and development.
