Libya’s National Oil Corporation is nearing the final stages of its first public exploration bid round since 2008, with the deadline for companies to submit offers set for February 2026. The highly anticipated tender offers 22 exploration blocks—11 offshore and 11 onshore—representing a significant milestone in the country’s efforts to increase crude oil and natural gas reserves.
NOC Chairman Masoud Suleiman recently reviewed the 2025 progress report with the committee overseeing the bid process, which included outcomes of one-to-one meetings held throughout the year with international energy companies. The NOC’s specialized team has been conducting technical and legal meetings with representatives from participating firms to address outstanding questions and provide detailed clarifications on project requirements.
In a statement on the corporation’s official Facebook page, Suleiman emphasized the importance of maintaining the highest standards of transparency and governance as Libya prepares to announce the tender results. He stressed that enhancing the overall investment climate in the oil and gas sector is essential to attracting global energy firms and creating a stable, supportive working environment.
The initiative is expected to help boost Libya’s national production levels and strengthen the country’s long-term economic stability. Officials describe the bid round as a critical step toward expanding the nation’s hydrocarbon reserves and securing its economic future through increased exploration and development activities.
Source: libyanexpress.com, libyaobserver.ly