Libya Invites Global Oil Giants
(MENAFN) Libya has initiated its first oil and gas exploration bid since the 2011 NATO-supported revolt that resulted in the overthrow and death of long-time ruler Muammar Gaddafi.
According to an official from the country’s National Oil Corporation (NOC), a news agency reported on Wednesday that thirty-seven global petroleum powerhouses are participating in this tender process.
The country aims to rejuvenate its petroleum industry, which has suffered frequent setbacks over the past ten years due to ongoing militia clashes and internal political discord.
Libya remains highly polarized, with authority split between the internationally recognized Government of National Unity in Tripoli and the opposing Government of National Stability operating out of Benghazi, a division that has persisted since Gaddafi’s fall.
Massoud Seliman, the head of the state-owned oil company (NOC), stated that nearly all “well-known international companies” are involved in the bidding.
This includes major U.S. firms such as ExxonMobil and Chevron, the French energy conglomerate TotalEnergies, and Italy’s Eni, all competing in this round of licensing.
He further explained that the contenders are seeking access to 22 offshore and onshore sites scattered throughout the country.
Agreements with the winning companies are anticipated to be finalized by the close of 2025.
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