Masoud Sulaiman, the acting chairman of Libya’s National Oil Corporation (NOC), told Bloomberg on Wednesday that the Government of National Unity has allocated $3.6 billion for fuel imports during 2025, with monthly supply reaching $600 million.

Sulaiman revealed that 37 international companies are interested in participating in the public bidding rounds launched by the NOC last March.

He named some of the companies that have expressed interest in competitive exploration in what marks the first bidding round since 2011, including Eni, Chevron, ExxonMobil, and TotalEnergies. Sulaiman added that the exploration areas span 22 blocks distributed across the Oil Crescent and central regions of Libya, in addition to offshore areas. Contracts with approved companies, in accordance with the bidding terms, are expected to be signed by the end of the current year.

Masoud Sulaiman also mentioned that the NOC awaits approval for a $3 billion development budget, which aims to boost Libyan oil production to 1.6 million barrels per day by the end of 2025.

The NOC chairman highlighted the significant role of Waha Oil Company, which can increase its production from 300,000 barrels per day to 800,000 barrels per day. Additionally, the development project at the Jalo field could contribute to raising that field’s output to 100,000 barrels per day.