TRIPOLI (LIBYA) (ITALPRESS/MNA)– Libya has officially launched its first round of oil and gas exploration bids in more than 17 years, offering 22 new blocks for development across both onshore and offshore areas. The announcement, made during an investment event in London represents a significant step by the National Oil Corporation (NOC) to revitalize the country’s energy sector, attract international investors, and recover from years of political instability and conflict.
The event was marked by the presence of senior executives from leading global energy firms, alongside key Libyan officials, including Acting NOC Chairman Masoud Suleiman, Acting Oil and Gas Minister Khalifa Abdul-Sadiq, and Peter Millett, Chairman of the UK-Libya Business Council. During the proceedings, Suleiman emphasized the importance of this bidding round as part of Libya’s broader effort to modernize and expand its oil sector.
“This bidding round is a vital element in the transformation of our country’s oil and gas industry,” Suleiman said. “We are committed to revitalizing production, fostering international partnerships, and enhancing Libya’s position on the global energy stage.”
The 22 exploration blocks—11 of which are offshore—are located in high-potential basins such as Sirte, Murzuq, and Ghadames, as well as areas in the Mediterranean. Since the launch of the bidding process in March, these blocks have already garnered significant interest from international energy companies, signaling confidence in the country’s oil potential.
– Photo IPA Agency –
(ITALPRESS/MNA)
