Tunisia-Libya Joint Oil Restarts Tender for 3,000 sq km Exploration Block

en.Wedoany.com Reported - The Tunisia-Libya Joint Oil Exploration, Development and Petroleum Services Company (Joint Oil) has relaunched its offshore block tender, opening the Zarat development project and the Joint Oil block exploration area to investors. The tender opened on September 7 and closes on December 31, 2026, with bid documents due by January 8, 2027, and contracts expected to be awarded by April 30, 2027.

This tender restarts the marketing process launched in 2023, which did not result in any contract awards in its previous round. The joint venture between Tunisia and Libya is once again seeking to attract investment to the offshore area shared by the two countries.

The exploration block covers approximately 3,000 square kilometers, with water depths ranging from 80 to 120 meters. The block holds 6,500 kilometers of 2D seismic data and 1,900 square kilometers of 3D seismic data, and includes five historical exploration wells. It lies within the geological extension of the Sabratha-Gabès Basin, flanked by producing oil fields in both Tunisia and Libya.

In addition to the exploration block, the Zarat project offers bidders an existing discovery with a defined development concept. The discovery straddles the offshore boundary between the Joint Oil block and Tunisia's Zarat permit area. Joint Oil will offer the discovery as a joint oil and gas development project, planned for two-phase development using a mobile offshore production unit. Existing data includes three exploration wells, reservoir cores, and records from eight drill stem tests.

The area is supported by the ports of Sfax and Zarzis, providing an established logistics base for offshore operations. Joint Oil has engaged Moyes & Co. to handle data validation, valuation, and marketing, and qualified bidders may apply for access to the virtual data room for review.