On Thursday, Libya’s National Oil Corporation (NOC) reaffirmed its commitment to revitalizing the country’s oil and gas sector by inviting international energy companies to participate in a newly reopened exploration licensing round, the first of its kind in over 17 years.
NOC Chairman, Masoud Suleiman, made the announcement during a high-profile event in Istanbul, where he officially launched the fourth general licensing round. He emphasized the corporation’s readiness to establish new and strategic partnerships between NOC-owned entities and international oil companies, aimed at securing shared long-term benefits and sustainable production growth.
Suleiman stressed that Libya is once again open to energy investment from companies around the world without restriction, noting that the licensing opportunities now on offer are backed by carefully designed contract terms that create a fair and stable investment climate.
These terms, he said, aim to protect the interests of both Libya and its partners while facilitating a reliable, commercially viable environment for exploration and development.
The chairman called on international firms to seize the opportunity to enter or re-enter Libya’s promising but underdeveloped energy market, especially as global demand for oil and gas continues to rise. He urged companies to invest in exploration and production efforts that would not only boost Libya’s national output but also contribute to energy security on a broader scale.
Accompanied by the NOC’s tender committee, Suleiman presented a detailed technical overview of the licensing round, including legal, commercial, and regulatory information.
The session featured an open discussion, with the NOC team responding transparently to all investor inquiries, offering clarity on exploration terms, compliance requirements, and logistical support.
This round offers 22 exploration blocks for bidding, 11 of which are offshore and 11 onshore, located across Libya’s southern, central, and coastal regions.
The move marks a significant milestone after nearly two decades of stalled exploration activity, during which Libya faced declining output and minimal investment in new wells.
By reactivating its licensing program, the NOC aims to reverse production decline, attract fresh capital and technology, and position Libya as a competitive player in the global energy market.
The initiative is part of a broader strategy designed by Libyan experts to restore the sector’s productivity while maximizing the country’s natural resource potential.
