Libya’s National Oil Corporation (NOC) Chairman, Masoud Suleiman, announced yesterday the signing of a Memorandum of Understanding with US energy giant Chevron to conduct a comprehensive technical study of offshore Block NC 146.
Block NC 146 – exploring promising offshore potential
The NOC Chairman emphasized that this step represents a new beginning in exploring promising offshore potential, noting that Block NC 146 is an unexplored area with encouraging geological indicators that could contribute to significant discoveries that will bolster the national reserves.
Chevron opens broad horizons for the transfer of advanced technology
Suleiman explained that cooperation with a global company the size of Chevron opens broad horizons for the transfer of advanced technology and the application of best practices in offshore exploration, thus supporting the NOC’s efforts to develop the energy sector in a sustainable and secure manner.
Evidence of confidence in the Libyan investment environment
He added that this partnership is not merely a technical agreement, but rather a message of confidence in the Libyan investment environment and evidence of the return of major companies to work and explore promising opportunities in our country. He pointed out that it is a step that reflects a strategic direction to enhance Libya’s position in the global energy market.
On the sidelines of the CERAWeek 2026 conference in Houston
The MoU was signed at the NOC’s Houston office and on the sidelines of Suleiman’s participation in the activities of the CERAWeek conference, one of the most prominent international gatherings in the energy sector.
Suleiman held meetings during the event with nearly 20 leading global energy / exploration and oilfield services companies, including ConocoPhillips, Shell, Chevron, TGS, Formentera Operations, Hunt Oil Company, DeGolyer and MacNaughton, Ryder Scott, Halliburton, SLB, and Weatherford.
Under the 2026 theme “Convergence and Competition: Energy, Technology and Geopolitics,” this year’s conference is taking place between 23 – 27 March in Houston, Texas.
CERAWeek is organized by the American company S&P Global, with the participation of executive officials and representatives of major international companies in the field of energy.
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NOC Chairman holds several meetings during his participation in Houston’s CERAWeek 2026
