JOINT OIL announces New Bid Round for Zarat Development and Joint Oil Block Exploration Acreage; Appoints Moyes & Co. as Strategic Advisor
Strategic Exploration and Development Opportunities
Moyes has been engaged to seek industry partners for two distinct commercial packages:
- Exploration: Further exploration of the Joint Oil Block for new plays, leads, and prospects under an Exploration and Production Sharing Agreement (EPSA).
Key parameters of the Joint Oil Block Exploration Acreage:
- Area: 3000 km2.
- Water depth: 80-120 m
- Seismic Data: 6500 km of 2D & 1900 km of 3D
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·Surrounding Producing fields:
- El Bouri, El Jurf and Bihr El Salam in Libya
- Hasdrubal, Ashtart, Miskar & Didon in Tunisia
- Development: Development of the Zarat Discovery—which straddles the Tunisia-Libya border—as a unitised oil and gas resource. This will be governed by a Development and Production Sharing Agreement (DPSA), Unitization Agreement (UA), Unit Operating Agreement (UOA), and Operating Services Contract (OSC).
The New Bid Round Schedule
JOINT OIL officially announces the New Bid Round will open on 1 August 2026 and run through 30 November 2026.
- Access: Credible companies with proven offshore exploration and development capability are invited to apply for access to the Virtual Data Room (VDR) managed by Moyes.
- Submission: Bids must be received by 1 December 2026.
- Selection: Winning bidders will be informed by 31 January 2027, with formal awards expected by 31 March 2027.
Management and Advisory
Joint Oil has highlighted the exceptional potential of the Joint Oil Block and the Zarat Discovery, strategically positioned along the southern margin of the Pelagian Basin within the geological extension of the Sabratha–Gabes Basin. By partnering with Moyes, we are providing investors with a robust data framework and a clear commercial path toward developing these significant unitized resources.
The concession benefits from a highly strategic offshore location in proximity to several major producing fields across the Sabratha–Gabes Basin, including El Jurf, Bahr Essalam, and Bouri offshore Libya, as well as Hasdrubal, Ashtart, Didon, and Miskar offshore Tunisia. This positioning enhances the project’s long-term value proposition through access to established regional infrastructure, operational synergies, and export pathways.
Bordered by active Libyan exploration zones and major offshore concessions, the Joint Oil Block and Zarat discovery further underscore the substantial untapped hydrocarbon potential of the shared Tunisian-Libyan offshore basin, reinforcing its attractiveness as a high-impact exploration and development opportunity for investors and strategic partners.
About JOINT OIL
Joint Exploration, Exploitation, and Petroleum Services Company 'Joint Oil' is a joint venture between Libya and Tunis through the national companies, the Tunisian Corporation of Petroleum Activities "ETAP" and Ola Energy Holdings Ltd. "OLA Energy." Since 1988, the company has managed hydrocarbon resources within the Tunisia-Libyan offshore acreage.
About Moyes & Co.
Moyes & Co. is a global upstream advisory firm active since 1983. Registered in Texas, the firm maintains a global presence with offices in Houston, Dallas, London, and Singapore, providing expert transaction and marketing services to the energy sector.
Media & Investor Enquiries: Moyes & Co. (Project Advisory)
Ian Cross Managing Director
+44 7398 815 690
Source: Moyes & Co
