Ministry of Oil & Gas – National Oil Corporation
Libya Licensing Bid Round
Joint Statement

The Ministry of Oil and Gas – National oil Corporation has announced the launch of Libya’s First International Exploration and Development Bid Round in 18 years, following the last EPSA Bid Round in 2007. This milestone presents a significant investment opportunity aimed at enhancing Libya’s oil and gas reserves and production potential.

Libya holds an estimated 91 billion barrels of oil equivalent (Bboe) in undiscovered hydrocarbon resources. This bid round offers 22 blocks for exploration and development (11 Offshore and 11 Onshore) including areas with undeveloped discoveries estimated to contain a minimum of 2.0 Bboe in hydrocarbon resources.

This bid round is particularly significant as the Ministry of Oil & Gas and the National Oil Corporation introduce a new Production Sharing Agreement (PSA) model, featuring attractive fiscal terms designed to encourage investment in Libya’s oil industry.

Interested companies will have instant access to principal and optional datasets, which will be available for review and purchase through a Virtual Data Room (VDR).