Masoud Suleiman, Chairman of the National Oil Corporation (NOC), announced on his personal social media page today that the NOC signed a production-sharing agreement with Chevron, as part of implementing the results of the 2025 bidding round.
Suleiman said this reflects the NOC's commitment to the continued development of the oil and gas sector and strengthening partnerships with major international companies.
This agreement, he explained, represents a significant step towards exploring and developing Libya's resources, and the NOC looks forward to a successful partnership with Chevron that will contribute to increased production and investment, and leverage their expertise and modern technologies in exploration and field development.
Suleiman added that this step is part of the NOC's strategy to attract quality investments, expand its international partnerships, develop reserves, and increase production rates, thereby supporting the national economy and enhancing Libya's position in the global energy sector.
