Joint Oil Exploration, Exploitation and Petroleum Services Company (Joint Oil) has confirmed that its bid round for the Joint Oil Block and Zarat Discovery remains open until  December 31, 2026, offering investors opportunities in offshore exploration and cross-border oil and gas development.

Launched on September 7, 2026 with appointed adviser Moyes & Co. (Moyes), the bid round covers acreage in the central Mediterranean’s Gabès–Tripoli Basin, a region surrounded by established oil and gas fields and offshore infrastructure in Tunisia and Libya.

The process comprises two commercial packages: further exploration of the Joint Oil Block under an Exploration and Production Sharing Agreement (EPSA), and development of the Zarat Discovery, a resource that straddles the Tunisia–Libya maritime border.

The Joint Oil Block covers approximately 3,000 square kilometres in water depths of 80 to 120 metres.

 Available geological and geophysical data include 6,500 kilometres of two-dimensional (2D) seismic surveys and 1,900 kilometres of three-dimensional (3D) seismic data.

Five exploration wells have been drilled in the block: Zohra-1 in 1976, El Amal South-1 in 1999, Besmah-1 and El Amal North-1 in 2002, and Zarat North-1 in 2010.

Moyes’ technical assessment has also identified the Faisal Prospect within the Zarat closure and the Zarat Deep Prospect as potential sources of additional commercial value.

The second package focuses on developing the Zarat Discovery as a unitised oil and gas resource.

The project is expected to be governed by a Development and Production Sharing Agreement, Unitisation Agreement, Unit Operating Agreement and Operating Services Contract.

The acreage is close to several producing fields, including Libya’s El Bouri, El Jurf and Bahr Essalam, and Tunisia’s Hasdrubal, Ashtart, Miskar and Didon.

Proximity to these assets could provide opportunities to leverage existing infrastructure, improve operational efficiencies and access established export routes.

Joint Oil and Moyes are inviting qualified companies with demonstrated offshore exploration and development capabilities to apply for access to the Virtual Data Room and Physical Data Room, which will provide technical information on the opportunities.

The bid submission deadline is January 8, 2027, with successful bidders scheduled to be notified on February 26, 2027.

Formal awards are expected by April 30 , 2027.

The opportunity will also be presented to industry participants at the Geoscience Energy Society of Great Britain’s Africa Conference in London on  November 12, 2026.

Joint Oil said the exploration and development packages offer potential partners exposure to the wider Sabratha–Gabès Basin system, where established producing fields and active exploration areas highlight the region’s hydrocarbon potential.

The bid round forms part of efforts to advance the Joint Oil Block’s exploration prospects and develop the cross-border Zarat resource through a structured commercial framework involving Tunisian and Libyan offshore interests. -OGN/TradeArabia News Service