Libya is offering 22 acreages in its first open licensing sale since 2007. The acreages, earmarked for exploration and development…
The post Libya Offers the Largest Number of Offshore blocks in the Cyrenaica Platform first appeared on Africa’s premier report on the oil, gas and energy landscape.
Tripoli, Libya – Libya has announced a new licensing round, offering the largest number of offshore blocks in the Cyrenaica Platform, signaling its intent to boost oil and gas exploration and production. This move aims to attract international investment and revitalize Libya’s energy sector.
The Cyrenaica Platform, known for its potential hydrocarbon resources, is now the focus of Libya’s efforts to expand its offshore exploration activities. The availability of a large number of blocks provides a significant opportunity for oil and gas companies seeking to gain a foothold in this promising region.
This licensing round is a key part of Libya’s strategy to increase its oil and gas reserves and enhance its position as a major energy producer. The government hopes that this initiative will lead to new discoveries and contribute to the country’s economic growth and stability. Details on the specific number of blocks and the bidding process are expected to be released soon.
