Tripoli: The launch of the Public Bid Round for exploration at the National Oil Corporation (NOC) was announced in Tripoli yesterday, marking a significant event after a 17-year hiatus. The announcement was made in the presence of the Prime Minister of the Government of National Unity (GNU), Abdul Hamid Dabaiba.
According to Libyan News Agency, the government’s media office quoted the Prime Minister’s remarks during the announcement, emphasizing that this round is a clear indication that Libya is ready to welcome international companies into a modern and transparent investment environment. The Prime Minister noted that the GNU has worked to eliminate the obstacles facing the oil and gas sector, leading to remarkable production rates. Libya’s crude oil production has reached 1.4 million barrels per day, with strategic plans to enhance the country’s standing as a major energy supplier.
Dabaiba highlighted that sustaining production levels necessitates exploring new resources to replace depleted reserves. He e
mphasized the importance of strengthening Libya’s position in global gas markets by developing infrastructure projects, which will help increase export capacity and secure energy supplies to European and global markets.
The media office reported that the announcement included presentations on the Libyan oil sector, covering information on basins and exploration areas. It also reviewed Libya’s potential in the oil and gas sector, outlining the investment opportunities available to international companies. Additionally, data on current and future oil reserves and infrastructure were provided, underscoring the significance of this round in boosting energy investments in the country.
The announcement ceremony was attended by several key figures, including 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 Strate
gic Projects, Mustafa Al-Manea. A number of directors from international companies in the energy sector were also present.