Libya’s National Oil Corporation (NOC) has signed a memorandum of understanding with Chevron to carry out a technical study of offshore Block NC146.
NOC Chairman Masoud Suleman said the agreement covers a comprehensive assessment of the block, which remains unexplored but shows encouraging geological indicators.
He said the step marks a new phase in evaluating offshore potential that could lead to discoveries and help strengthen Libya’s hydrocarbon reserves.
Suleman said cooperation with a global company such as Chevron would support the transfer of advanced technology and the application of best practices in offshore exploration, contributing to the development of the energy sector.
He added that the partnership signals renewed confidence in Libya’s investment environment and reflects the return of major international companies to explore opportunities in the country.
Suleman said the agreement also aligns with a broader strategy to enhance Libya’s position in the global energy market.