US-based energy giant Chevron has collaborated with the Libyan National Oil Corporation to conduct an oil study in an offshore area in Libyan waters.
The National Oil Corporation and Chevron signed a memorandum of understanding to conduct an offshore oil study in the Libyan region. Block NC146According to Masoud SuleimanChairman and engineer of the National Oil Corporation.
The duo plans to conduct a comprehensive technical study of the marine area. The head of the National Oil Corporation explained that this step represents a new beginning in evaluating the promising marine potential.
Area NC146 is described as an unexplored area with encouraging geological indicators that could lead to important discoveries, helping to enhance national reserves.
Suleiman believes that the partnership with a global company such as Chevron will expand the horizons of the National Oil Corporation in transferring advanced technology and applying best practices in the field of marine exploration.
He claims that this will support the Libyan player’s efforts to develop the country’s energy sector in a sustainable and safe way.
The deal is interpreted as a sign of confidence in the Libyan investment environment and evidence of the return of major companies to work and exploring promising opportunities in the country.
The deal with Chevron comes days after Eni’s signing Two gas discoveries were revealed Libya Navy.
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