JOINT OIL Provides Update on Launched Bid Round for Zarat Development and Joint Oil Block Exploration
The bid round for the Joint Oil Block and Zarat Discovery, launched on 7 September 2026 by Joint Oil Exploration, Exploitation and Petroleum Services Company (Joint Oil) and its appointed adviser, Moyes & Co. (Moyes), remains open until 31 December 2026. Located in the prolific Gabès–Tripoli Basin in the central Mediterranean, the offshore acreage presents a significant opportunity for cross-border energy cooperation between Tunisia and Libya. The acreage sits in a strategic position directly surrounded by established offshore and onshore energy infrastructure.
Moyes’ technical work further underscores the scale of the opportunity, identifying the Faisal Prospect within the Zarat closure and the Zarat Deep Prospect as a source of additional commercial upside.
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: 3,000 sq km
- Water depth: 80-120m
- Seismic Data: 6,500km of 2D and 1,900km of 3D
·Wells:
o Zohra-1 (1976)
- El Amal South 1 (1999)
- Besmah-1 (2002)
- El Amal North 1 (2002)
- Zarat North 1 (2010)
·Surrounding producing fields:
- El Bouri, El Jurf and Bihr El Salam in Libya
- Hasdrubal, Ashtart, Miskar and Didon in Tunisia
- Development: Development of the Zarat Discovery, which straddles the Tunisia–Libya border, as a unitised oil and gas resource. The development will be governed by a Development and Production Sharing Agreement (DPSA), a Unitisation Agreement (UA), a Unit Operating Agreement (UOA ), and an Operating Services Contract (OSC).
Bid Round Schedule
Joint Oil officially opened the Bid Round on 7 September 2026, and it will remain open until 31 December 2026.
- Access: Qualified companies with proven offshore exploration and development capabilities are invited to apply for access to the Virtual Data Room (VDR) and Physical Data Room (PDR), managed by Moyes.
- Submission: Bids must be submitted by 8 January 2027.
- Selection: Successful bidders will be notified by 26 February 2027, with formal awards expected by 30 April 2027.
The bid round will next be presented to industry participants at the Geoscience Energy Society of Great Britain (GESGB) Africa Conference in London on 12 November 2026, providing prospective partners with an opportunity to learn more about the exploration and development packages.
Management and Advisory
Joint Oil has highlighted the substantial potential of the Joint Oil Block and the Zarat Discovery, strategically located along the southern margin of the Pelagian Basin within the wider Sabratha–Gabès Basin system. Through its partnership with Moyes, Joint Oil is providing prospective investors with a robust technical data package and a clear commercial pathway for advancing these material resources.
The concession benefits from a highly strategic offshore location in proximity to several major producing fields across the Sabratha–Gabès Basin, including Al Jurf, Bahr Essalam, and Bouri offshore Libya, as well as 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 Tunisia 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
