Russian gas major Gazprom has won the hydrocarbon exploration & development tender for onshore Block 64 located in the Libyan Ghadames Basin.

With 16 bidders involved, the tender was organized by the Libyan National Oil Corporation (NOC).

The project is planned to be funded with over $100 million to be used for geological exploration purposes. According to preliminary estimations, the block is expected to have oil reserves of 20 million tons.