Joint Oil has opened a new bid round for the development of the Zarat oil and gas discovery and exploration of the adjoining Joint Oil Block offshore Tunisia and Libya.
Investors can submit separate offers for the approximately 3000 km² exploration block, excluding the Zarat tract; the development and exploitation of Zarat; or both opportunities. The exploration acreage lies in water depths of 80–120 m and is covered by around 6500 km of 2D and 1900 km² of 3D seismic data.
Zarat contains estimated best-case contingent resources of 158 million barrels of oil equivalent. Joint Oil describes it as the largest undeveloped offshore field in Tunisia and the country’s largest offshore discovery since Miskar in 1975.
Additional potential has been identified along the Zarat Corridor, including the Fisal and Siraj prospects. A 512 km² 3D seismic survey covering the two prospects has been completed and is currently being processed. Four further prospects and leads have also been mapped on the block.
The bid round will remain open until 31 December 2026, with bids due by 8 January 2027. Successful bidders are expected to be notified by 26 February, with formal awards scheduled for 30 April 2027. Moyes & Co. is managing the transaction and access to the virtual data room.
