National Oil Corporation signs production-sharing agreement with Chevron
The National Oil Corporation NOC has signed a production-sharing agreement with Chevron, according to Masoud Suleiman, Chairman of the NOC. This agreement is part of implementing the results of the 2025 bidding round and reflects the NOC's commitment to developing the oil and gas sector and strengthening partnerships with international companies. Suleiman stated that this represents a significant step towards exploring and developing Libya's resources, anticipating a successful partnership that will increase production and investment. The NOC aims to leverage Chevron's expertise and modern technologies in exploration and field development. This move aligns with the NOC's strategy to attract quality investments, expand international partnerships, develop reserves, and boost production rates, ultimately supporting the national economy and enhancing Libya's standing in the global energy sector.
