The National Oil Corporation (NOC) of Libya plans to offer 22 onshore and offshore exploration blocks in an upcoming public tender, targeting international oil companies. The announcement was made on December 7 in a meeting chaired by Libya’s Prime Minister Abdul Hamid Dbeibah.
According to the NOC, the tender aims to attract foreign investment to boost the country’s hydrocarbon sector. NOC Chairman Farhat Bengdara highlighted the completion of a new standard agreement and procedural manual, which have both been updated with technical amendments to streamline the tender process.
In addition to exploration, the NOC reported that oil and condensate production currently stands at 1.422 million barrels per day, with the production increase plan proceeding on schedule.
The meeting also addressed key projects, including settling the status of the Ras Lanuf refinery following the exit of Emirati partner Trasta Energy and approving the NOC’s acquisition of the partner’s shares.
