Libya’s National Oil Corporation (NOC) has launched its first public tender for oil and gas exploration since 2008, marking a major step toward reopening the country’s energy sector to international investment after years of political instability and operational challenges.
The official presentation of the tender will take place in Tripoli this evening, where NOC officials will outline available exploration opportunities for foreign oil companies.
This move comes as Libya struggles with hydrocarbon production setbacks, including a recent leadership change at NOC and infrastructure issues.
Current Oil and Gas Production
According to official data, Libya’s latest production figures include:
- 1.376 million barrels of crude oil, below the previously claimed 1.4 million barrels.
- 50,939 barrels of condensate.
- 2.448 billion cubic feet of natural gas.
The NOC attributed the decline to maintenance work and urgent infrastructure repairs.
By opening the tender, Libya seeks to revitalize its oil sector and attract new investments, despite ongoing political tensions between rival governments in the east and west, both vying for control over oil revenues.
Masoud Suleiman, NOC’s interim president, has stressed the urgent need to modernize the sector, expand production capacity, and leverage new discoveries and advanced technologies.
As global demand for energy remains high, Libya’s new exploration blocks could attract major international energy companies, boosting the country’s oil and gas industry.
