The National Oil Corporation (NOC) of Libya has announced plans to launch a public tender offering 22 onshore and offshore exploration blocks to international oil companies.
The announcement was made during a meeting chaired by Libya’s Prime Minister, Abdul Hamid Dbeibah, on December 7.
The tender aims to attract foreign investment to bolster Libya’s hydrocarbon sector. NOC Chairman Farhat Bengdara emphasized the introduction of a new standard agreement and an updated procedural manual.
These documents, revised with technical amendments, are designed to streamline the tendering process and enhance transparency for potential investors.
Alongside exploration opportunities, the NOC reported that Libya’s oil and condensate production has reached 1.422 million barrels per day, with ongoing efforts to further increase production progressing as planned.
The meeting also focused on significant projects, including resolving issues surrounding the Ras Lanuf refinery.
This follows the exit of Emirati partner Trasta Energy, with the NOC approving the acquisition of Trasta’s shares to secure full control over the refinery’s operations.
This move underscores Libya’s commitment to revitalizing its energy sector and attracting international partnerships to support its economic growth.
