Eng. Masoud Suleiman, Chairman of the National Oil Corporation (NOC), announced the signing of a Memorandum of Understanding (MOU) with Chevron to conduct an integrated technical study of offshore Block NC146. Suleiman stated that this move marks a fresh start toward exploring promising maritime potential, noting that the block is a frontier area with encouraging geological indicators that could lead to significant discoveries, thereby boosting national reserves.
Libya’s National Oil Corporation signs deal with ExxonMobil to revive offshore exploration
The Chairman explained that collaborating with a global giant like Chevron opens broad horizons for transferring advanced technology and applying best practices in offshore exploration. This support aligns with the NOC’s efforts to develop the energy sector sustainably and safely. He added that this partnership serves as a testament to the growing confidence in Libya’s investment climate and signals the return of major international firms to explore the country’s vast opportunities. This step is part of a strategic direction to strengthen Libya’s standing in the global energy market