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Announcement in Tripoli of the launch of the public bid round for exploration at the NOC.

Pulbished on:

Tripoli, 4 March 2025 (Lana) The launch of the Public Bid Round for exploration at the National Oil Corporation (NOC) was announced in Tripoli yesterday, after a 17-year hiatus, in the presence of the Prime Minister of the Government of National Unity (GNU), Abdul Hamid Dabaiba.

The government's media office quoted the Prime Minister's remark during the announcement, confirming that this round represents a clear message that Libya is ready to open up to international companies within a modern and transparent investment environment, noting that the GNU worked to remove the obstacles facing the oil and gas sector, which led to achieving distinguished production rates, as crude oil production reached 1.4 million barrels per day, with plans to strengthen Libya's position as a major energy supplier.

Dabaiba said that the sustainability of production requires exploring new resources to compensate for the produced reserves while working to strengthen Libya's position in global gas markets by developing infrastructure projects, which will contribute to raising export capacity and securing energy supplies to European and global markets.

The media office stated that the announcement included presentations on the Libyan oil sector, including information on the basins and exploration areas, in addition to reviewing Libya's potential in the oil and gas sector and the investment opportunities available to international companies, as well as providing data on current and future oil reserves and infrastructure, reflecting the importance of this round in enhancing energy investments in the country.

The announcement ceremony was attended by the Chairman of the Corporation, Masoud Suleiman, the Minister of Oil and Gas in Charge, Khalifa Abdul Sadiq, the Minister of State for Communication and Political Affairs, Walid Al-Lafi, and the Head of the Executive Team for the Head's Initiatives and Strategic Projects, Mustafa Al-Manea, and a number of directors of international companies in the energy sector.

=Lana=