Mon. Sep 16th, 2024

Libya’s National Oil Corporation (NOC) is preparing to launch the first international tender for exploration and exploration activities in vital oil and gas areas in the Sirte, Murzuq and Ghadames basins.

ENEC’s announcement of the resumption of exploration comes after a period of halt in activities due to security concerns.

Libya has been witnessing increased interest in oil and gas exploration activities recently, as the country seeks to increase its production to 2 million barrels per day over the next three years, including an increase of 100,000 barrels per day in 2024.

These efforts focus on five major exploration projects this year, including Algeria’s Sonatrach and Italy’s Eni and BP in collaboration with the National Oil Corporation (NOC).

Efforts also include partnerships with companies such as Norway’s Equinor and India’s Oil India, as well as Spain’s Repsol’s resumption of exploration drilling activity.

These efforts are expected to contribute to the goal of increasing oil and gas production in Libya and boosting economic activity in the country in the coming years.

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