The National Oil Corporation (NOC) in Libya has discussed technical and investment cooperation with US energy giant Chevron, signalling potential expansion in exploration and production projects. The talks are part of the NOC’s wider strategy to strengthen international partnerships and attract high-value foreign investment into the country’s energy sector.
According to the Libyan News Agency, the two sides reviewed opportunities to develop untapped reserves and benefit from unconventional hydrocarbon resources. Discussions also covered prospects in high-pressure and high-temperature fields, which require advanced technology and specialised expertise.
The NOC presented its strategic vision to raise production capacity and maintain stable output through effective cooperation with global firms. The corporation highlighted its interest in companies that can bring both technical know-how and strong financial backing.
Chevron was briefed on Libya’s unexplored blocks not included in previous licensing rounds, alongside undeveloped oil discoveries requiring precise geological and economic evaluation. Libya’s undeveloped reserves are estimated at around four billion barrels of crude oil. In addition, the country holds unconventional resources, including approximately 18 billion barrels of shale oil and 123 trillion cubic feet of natural gas, offering long-term investment prospects.
Chevron confirmed its serious interest in re-entering Libya after more than a decade of absence. The company last participated in a Libyan oil tender during the previous decade but is now considering a return amid efforts to stabilise and modernise the energy industry.
The NOC expects that international partnerships will play a key role in unlocking Libya’s energy potential, boosting revenue, and supporting the national economy.
