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3 Mar, 18:12

Libya announces first oil and gas exploration tender in seventeen years

Libya, the OPEC member-country, boasts the largest reserves of raw hydrocarbons in Africa

TUNIS, March 3. /TASS/. The National Oil Corporation (NOC) of Libya announced its first tender for exploration of oil and gas fields since 2008.

"Twenty-two new onshore and offshore areas" will be offered to international oil companies, Acting NOC Chairman Masoud Suleiman said.

Libya, the OPEC member-country, boasts the largest reserves of raw hydrocarbons in Africa. It ranked 12th globally among oil exporters with 1.6 mln barrels produced per day before the civil war started in the country in 2011.

Oil production in Libya is currently growing and was above 1.4 mln barrels daily on December 3, 2024, having reached the record high figure since 2013.