News
Libya’s First Oil Bid Round in 18 Years Offers Production Sharing Contracts
Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libya is offering a total of 22 blocks for exploration and development, 11 offshore and 11 onshore blocks, including areas with undeveloped discoveries, in the first International Exploration and Development Bid Round in 18 years. The previous such bid round was held in 2007, four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted…