Tripoli_ The National Oil Corporation (NOC) called on foreign oil companies working in Libya that there is now a great opportunity to expand their operations in the country and it would be of a great mutual interest to do so.
This was the focus of a discussion between the NOC Chairman Farhat Ben Gadara and the representatives of Eni, Total, Repsol and Wintershall that took place on the sideline of the Libyan Energy Week that is being held in the capital Tripoli.
The executives “discussed ways and means to expand the scope of partnership in the field of oil production, manufacturing and exploration,” a statement by NOC said on its official web site.
Gadara reminded the participants in the discussion that NOC would soon open the door to submit applications for the general bidding round to obtain exploration licenses. Oil bidding has been suspended for more than 17 years in Libya and the new bidding round represent a rare opportunity for doubling oil investments.
On Tuesday, Gadara opened the fifth session of the Libyan Energy Week saying that 70% of Libya’s total land area and over 65% of its territorial waters have yet to be explored.