Libya’s National Oil Corporation (NOC) has signed a memorandum of understanding with US supermajor Chevron to conduct technical studies on one of the country’s offshore blocks. The memorandum of understanding between the two parties covers the preparation of a comprehensive technical study for the NC 146 offshore block. This comes at a time when Libya’s oil sector is attempting to boost national reserves. In a statement, NOCs chairman, Mesud Suleiman, said the block holds substantial potential to strengthen Libya’s national reserves and yield significant discoveries. Last month, the US firm signed a memorandum of understanding with Turkey’s TPAO.

Source: Libya Today March 30, 2026 07:35 UTC