Libya’s National Oil Corporation (NOC) has launched its first public tender for oil and gas exploration since 2008, signaling the country’s renewed openness to international investment in the sector after years of political instability and operational setbacks.
Libyan sources informed “Agenzia Nova” that the official presentation of the tender will take place this evening in Tripoli, where NOC officials will outline available exploration opportunities for foreign oil companies.
This announcement comes amid ongoing challenges in Libya’s hydrocarbon production, including a recent leadership change at the state-run NOC.
According to the latest official data, Libya produced 1.376 million barrels of crude oil, falling short of the 1.4 million barrels previously claimed as a record by the country’s largest company. Additionally, output included 50,939 barrels of condensate and 2.448 billion cubic feet of natural gas.
The NOC report attributed the production decline primarily to maintenance work and the urgent need for infrastructure repairs.
By opening the public tender, Libya aims to revitalize its oil sector and attract fresh investments, even as rival governments in the east and west vie for control over oil revenues, a crucial economic pillar.
Masoud Suleiman, the NOC’s interim president, has repeatedly emphasized the urgency of modernizing Libya’s oil sector and boosting production capacity through new discoveries and advanced technologies.
With demand for natural resources remaining high, this international competition for new exploration blocks could attract major global energy companies.
Source:agenzianova.com
