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Libya’s National Oil Corporation (NOC) has signed a memorandum of understanding (MoU) with the American company Chevron to conduct a technical study in offshore block NC146, an as-yet unexplored area that could contain significant oil reserves.
Located in deep waters off the Libyan coast, block NC146 has been identified as an area with encouraging geological indicators, according to NOC Chairman, engineer Masoud Suleman.
Chevron’s Role
The company’s chairman emphasized that cooperation with Chevron will allow for the adoption of cutting-edge exploration technology. The American multinational is globally recognized for its expertise in offshore operations, making this alliance a key technical support for Libya.
Masoud Suleman also highlighted that the agreement with a company of Chevron’s caliber represents a positive signal of confidence in the country’s investment environment.
A Strategic Direction for the Energy Market
The signing of the memorandum between NOC and Chevron seeks to reposition Libya as a relevant player in the international energy market. The exploration of block NC146 not only represents a technical challenge but also a future bet for an energy-rich Libya with global projection.
Source: NOC