We are pleased to announce 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. To support this initiative, we have prepared comprehensive geological and geophysical datasets using the latest digital tools.

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). 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.

The announcement of this event shall take place on March 3rd, 2025. In Tripoli at Rixos Hotel we invite our strategic partners and new entrants to participate in this exciting opportunity to explore and develop Libya's vast oil and gas resources.

About Libya’s National Oil Corporation (NOC)

Established in 1970, Libya’s National Oil Corporation (NOC) has been the backbone of the country’s energy sector for over five decades. As guardians of Libya’s vast oil and gas reserves, NOC is committed to sustainable resource development while maintaining it's position as a key player in the global energy market. NOC’s journey is defined by resilience, innovation, and strategic collaborations with international partners—strengthening Libya’s energy infrastructure and driving economic growth for the nation.