Libya’s NOC and Chevron Sign Deal to Study 123 Tcf Gas and 18 Billion Barrels of Shale Resources
National Oil Corporation (NOC) has signed a memorandum of understanding with Chevron to conduct a joint study on shale oil and gas potential across several of Libya’s sedimentary basins.
According to an official statement, the collaboration will focus on evaluating unconventional hydrocarbon resources and identifying opportunities for future development.
Preliminary estimates suggest that Libya’s basins may contain approximately 123 trillion cubic feet of natural gas and around 18 billion barrels of oil, highlighting the country’s significant untapped shale potential.
The agreement reflects Libya’s broader strategy to expand its resource base and attract international investment into its upstream sector, particularly in unconventional energy development.
