In early March 2025, the Libyan National Oil Corporation (NOC) officially launched the country’s first exploration and development bid round in almost two decades. The NOC has stated that 22 onshore and offshore blocks are now available for global energy investors to access and develop Libya’s vast hydrocarbon potential.

To entice investors and drive growth, the NOC has introduced competitive fiscal terms under an improved production sharing agreement model.

We expect further details to emerge as the bid round progresses – in the meantime, our Africa Team breaks down the key aspects of the round in the newsletter available here.

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