Libya's NOC and Chevron sign an MoU to jointly study shale oil and gas resources, with initial estimates of 123 Tcf of gas and ~18 billion barrels of oil in Libyan basins.Libya's National Oil Corporation (NOC) and Chevron signed a memorandum of understanding to jointly study the country's shale oil and gas resources. Early estimates indicate substantial unconventional resources in Libyan basins, approximately 123 trillion cubic feet of gas and around 18 billion barrels of oil. The collaboration aims to assess the potential development, feasibility, and regulatory considerations of these resources.

NodeGuardian

2026-04-28 15:28:23

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Libya’s National Oil Corporation (NOC) has signed a preliminary agreement with U.S. energy major Chevron to jointly study the country’s shale oil and gas reserves. Initial estimates suggest substantial resources, including about 123 trillion cubic feet of gas and approximately 18 billion barrels of oil in Libyan sedimentary basins. This memorandum of understanding aims to assess the potential for these unconventional resources.

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Libya signs preliminary agreement with Chevron to assess shale oil and gas resources

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