Bengdara: 70% of Libya’s Land Unexplored, Bid Round to Reopen Soon
Dr. Farhat Bengdara, Chairman of the National Oil Corporation (NOC), announced today during his speech at the opening of the fifth edition of the Libyan Energy Week that a new bid round for exploration projects will soon be launched, inviting leading global companies with the advanced technologies and capabilities needed to meet the country’s strategic goals.
Bengdara emphasized that the bid round has remained closed for more than 17 years, noting that 70% of Libya’s total land area and over 65% of its territorial waters have yet to be explored.
He further highlighted that resuming exploration in Libya is a significant step and a promising opportunity to drive economic growth, enabling the execution of ambitious projects in infrastructure development, reconstruction, and other vital initiatives that the country requires.
Libyan Energy Week, organized by the NOC, serves as a platform for both local and international experts in the oil and energy sectors. The event features discussions on the current state of Libya’s oil industry, future prospects, and the strategic plans being adopted by the NOC to boost production and expand exploration activities.
The three-day event is attended by the heads of the NOC’s subsidiary oil companies, managers of various departments, private sector executives, and over 28 representatives from global energy organizations and companies, as well as academics and industry professionals.