Global Platts reported today, Monday, that Tunisia and Libya have announced a new bidding round for the development of fields and exploration of the Joint Oil Area, an offshore area located in the Gulf of Gabes.
The agency indicated that the opportunity is being offered by Joint Oil Exploration and Petroleum Services (Joint Oil), a joint venture between Tunisia and Libya focused on managing hydrocarbon resources in the shared offshore area, with Moyes & Co., a consultancy specializing in exploration and production, serving as the appointed adviser.
The agency confirmed that the bidding round officially opened on September 7, 2026, and will remain open until December 31, 2026. Reputable companies with proven capabilities in offshore exploration and development are invited to apply for access to the Virtual Data Room (VDR) managed by Moyes & Co.
According to the agency, bids must be submitted by January 8, 2027. Successful bidders are expected to be notified by February 26, 2027, while the official award is expected to be announced by April 30, 2027.
Joint Oil highlighted the potential of the Joint Oil Block and the Zarāt Discovery, which are strategically located along the southern edge of the Pelagian Basin and within the geological extension of the Sabratha–Gabes Basin.
The agency added that the area is located near several major producing fields on both sides of the maritime border between Tunisia and Libya. These include Al-Jurf, Bahr Essalam, and Bouri off the Libyan coast, as well as Ashtart, Didon, and Miskar off the Tunisian coast.
This proximity to existing producing assets and regional infrastructure provides potential access to existing operational capabilities, infrastructure integration, and export routes.
The Joint Oil Area is also surrounded by active Libyan exploration areas and major offshore concessions, highlighting the broader hydrocarbon potential of the shared Tunisian-Libyan offshore basin, according to the agency.
