5 Articles
5 Articles
Signed on Monday, 24 August, the text, which deals with the exploitation of a block in the Sirte basin, brings the ambition to increase Libyan oil production from 1.5 million barrels per day today to 2 million barrels per day in 2030. While this partnership once again illustrates a gradual return of the oil majors to Libya in recent months, the momentum is still limited due to the country's continuing political instability.
Chevron advances Libya return with new production-sharing deal
Libya’s National Oil Corporation has signed a production-sharing agreement with US energy major Chevron covering exploration acreage in the Sirte Basin, advancing one of the key awards from the country’s latest oil and gas licensing round. The agreement, signed on Monday, 24 August, follows Chevron’s selection in February as the successful bidder for onshore Area […] The post Chevron advances Libya return with new production-sharing deal appeare…
Libya NOC, Chevron Sign Energy Pact
Libya’s state-owned National Oil Corporation (NOC) signed a production-sharing agreement with US energy firm Chevron on Monday to explore and develop resources in the Sirte Basin. The deal, stemming from an international tender launched in 2025, grants Chevron access to the block it won in February and allows the NOC to leverage the company’s technological expertise. Both parties emphasised the strategic importance of the partnership following t…
Libya’s NOC Signs Production-Sharing Agreement With Chevron
Libya holds Africa’s largest proven oil reserves, yet the country continues to import fuel and faces recurring shortages while billions of dollars in potential oil revenues are lost or remain unaccounted for, according to a report by French magazine Le Point. The magazine questioned why Libya’s vast energy resources have failed to translate into reliable services and improved living conditions for its population. It pointed to corruption, fuel s…
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