The National Oil Corporation (NOC) announced today, Monday, the launch of the third phase of its public bidding round dedicated to oil and gas exploration, during a high-level event hosted in the British capital, London, attended by a group of senior executives from leading global oil and gas companies.
The Acting Chairman of the NOC, Masoud Suleiman, presented a detailed overview of the new bidding round, highlighting the technical advantages and investment facilities adopted by the corporation to establish fruitful partnerships with prominent players in the energy sector internationally.
The new exploration round includes 22 promising blocks, equally divided into 11 offshore and 11 onshore areas, located in high-potential exploration sites in the southern and central regions of Libya.
In an official statement published by the corporation on its verified Facebook page, it affirmed its continued progress in efforts aimed at enhancing oil and gas production rates, within the framework of a strategic action plan developed in close cooperation with specialized Libyan experts; with the goal of rescuing the vital sector from the noticeable decline in production levels.
In his address to the attendees, Suleiman emphasized the NOC’s full openness to establishing new and long-term strategic partnerships with international partners who possess the desire and the technical and financial capabilities for optimal investment in Libya, describing the joint exploration and production experience with the NOC as a highly promising and motivating investment opportunity.