Libya Inks Offshore Energy Exploration Agreement with Chevron

RunWithRugs · 2026-03-30T17:02:00+00:00

Libya's National Oil Corporation has signed a memorandum of understanding with Chevron for a technical study of the offshore "NC 146" block, aimed at enhancing Libya's reserves and attracting foreign investment.

RunWithRugs

2026-03-30 17:02:00

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(MENAFN) Libya’s National Oil Corporation announced late Thursday that it has signed a memorandum of understanding (MoU) with US-based energy company Chevron to conduct a technical study for the offshore “NC 146” block.

As stated by reports, the corporation shared remarks from its chairperson, Mesud Suleiman, regarding the agreement.

Suleiman explained that the MoU involves preparing a detailed technical study for the “NC 146” offshore block, an area expected to bolster Libya’s national reserves and yield significant discoveries.

“This partnership is not only a technical agreement but also a message of confidence in Libya’s investment environment and evidence of the return of major companies to explore and operate in promising opportunities in our country,” Suleiman said.

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