Libya plans its first bidding round for oil exploration in more than 17 years, Masoud Suleman, acting Chairman of the National Oil Corporation (NOC), announced in a televised address on Monday.

Libya has launched its first exploration bid round in 17 years as part of a strategy to boost oil production by more than 50% to 2 million barrels per day. The last time the country ran an acreage offering in 2007, it covered 12 blocks on the offshore Sirte basin and the onshore Ghadames, Murzuq and Cyrenaica basins.

Libya has launched its first bidding round for oil exploration in more than 17 years, aiming to bolster its position in the global oil market and achieve a production target of two million barrels per day (2mbbl/d).

Libya’s oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. The Libyan government has officially launched the 2025 bid round for oil exploration,

Libya is set to hold its first oil exploration bidding round in 17 years, as announced by Masoud Suleman, acting NOC Chairman. Despite past instability, major oil companies are resuming activities. Libya's crude production is nearing pre-war levels,

After a pause of almost 17 years, Libya is preparing to host a bidding round for oil exploration. The announcement was made in a televised address on Monday by the acting Chairman of the National Oil Corporation (NOC),

Libya launched its first tender for energy exploration since before the 2011 civil war, as the OPEC member seeks to lure back oil and gas majors following years of political instability and production shutdowns.