Libya is gearing up to launch its 2025 international bid round, focusing on attracting investments in brownfield assets and large-scale gas developments.
The North African nation, which boasts vast untapped hydrocarbon resources, aims to increase its oil production to two million barrels per day (bpd) within the next three years.
This ambitious goal is expected to facilitate greater investment in both onshore and offshore acreage while bolstering the country’s economic stability.
The Ministry of Oil and Gas and the National Oil Corporation (NOC) unveiled Libya’s strategic roadmap for achieving this target during the official launch of the Libyan NOC Exploration Bid Round 2025.
The presentations by President of the National Oil Corporation (NOC, Libya’s state-owned oil company), Masoud Suleiman provided insights into Libya’s oil and gas portfolio and highlighted efforts to rejuvenate mature fields, enhance production capacity, and diversify the country’s energy mix.
“Brownfield development remains one of our strongest opportunities to boost production rapidly and ensure long-term revenue streams.
“We are committed to working with global energy companies to introduce advanced recovery techniques and unlock the full potential of our existing oil fields.”
Masoud Suleiman, President of the National Oil Corporation
The 2025 bid round will include both onshore and offshore blocks, allowing for maximum resource development while maintaining a high reserve replacement ratio.
Libya is particularly keen on attracting investors for exploration in medium- to high-risk deep offshore areas, as well as advancing undeveloped discoveries and greenfield projects.
“Libya remains one of the most promising hydrocarbon frontiers globally, and with a success rate of 33% in exploration well above the global average of 21%, we are confident that new investments will yield substantial discoveries.”
Masoud Suleiman, President of the National Oil Corporation
Currently, Libya has 167 active contractual blocks, 18 active operators, and 409,000 square kilometers of acreage under contractual agreements.
To meet its resource addition target, the country is planning an aggressive drilling campaign to maintain production growth. Over the years, 3,120 exploration wells have been drilled, with 951 of them yielding successful discoveries.
Average production currently stands at 1.4 million bpd, but the government’s ultimate target is to reach 2 million bpd within three years.
Gas Development Core to Libya’s Energy Transition
As Libya seeks to diversify its energy sector, natural gas has emerged as a critical focus area. The government views gas not just as a “bridge fuel” but as a “destination fuel” that can help power the nation’s energy transition while securing long-term economic benefits.
“With more than 79 trillion cubic feet of natural gas reserves, Libya has the potential to become a key regional LNG player.
“However, unlocking this potential requires strategic investments and infrastructure development.”
Masoud Suleiman, President of the National Oil Corporation
The upcoming licensing round is expected to attract a new wave of investment into Libya’s gas sector, particularly in upstream exploration and production.
Officials hope to monetize gas reserves efficiently by developing large-scale gas fields and expanding liquefied natural gas (LNG) projects.
“Gas monetization is not an option… it’s a necessity for Libya’s future.
“We need to ensure that our gas resources are harnessed effectively to generate sustainable revenues and power our growing economy.”
Masoud Suleiman, President of the National Oil Corporation
Despite the promising outlook, Libya still faces significant challenges in its quest to attract foreign investment. Political instability, security concerns, and infrastructure limitations remain key risks for investors.
However, the government has taken steps to enhance regulatory frameworks, improve transparency, and offer competitive incentives to potential investors.
“We understand that investors need a stable and predictable environment.
“That’s why we are implementing reforms that will ensure fair contract terms, improve security measures, and facilitate ease of doing business in Libya.”
Masoud Suleiman, President of the National Oil Corporation
The 2025 bid round represents a major step toward restoring Libya’s position as a top oil and gas producer in Africa.
With a rich hydrocarbon resource base, ongoing technological advancements, and strong government support, Libya is poised to attract major players in the global energy market.
As the country prepares for a new era of energy development, all eyes will be on how successfully Libya can secure foreign investments, expand production, and navigate the complex geopolitical landscape.
The bid round’s outcome will be crucial in determining Libya’s energy future and its role in the global oil and gas industry.
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