Libya Plans Oil and Gas Bidding Round Before Year-End
December 3, 2024
Libya's National Oil Corporation (NOC) will announce a bidding round for oil and gas exploration concessions before year-end, NOC's chairman said on Tuesday.
It would be the first bidding round by the OPEC member country since the 2011 NATO-backed uprising that toppled leader Muammar Gaddafi.
NOC's production has reached 1.4 million barrels per day including condensates, Chairman Farhat Bengdara said at an industry event in Cairo.
That is its highest since 2013, the state oil firm later said in a statement.
Libya's oil output has been disrupted repeatedly in the chaotic decade since the country divided in 2014 between two administrations in its east and west.
(Reuters - Reporting by Mohamed Ezz in Cairo; additional reporting by Ahmed Elumami in Tripoli; editing by Louise Heavens and Jason Neely)
