Chevron Signs MoU with Libya’s NOC to Assess New Oil and Gas Opportunities
Energy major Chevron has signed a memorandum of understanding (MoU) with Libya’s National Oil Corporation (NOC) to evaluate potential oil and gas exploration and development opportunities, supporting the country’s efforts to boost hydrocarbon production.
The agreement was signed during the opening ceremony of the Libya Energy and Economic Summit 2026 in Tripoli on Saturday.
It was formalised by NOC Chairman Masoud Suleiman and Joe Koch, Chevron’s Director of Business Development.
The MoU marks Chevron’s return to Libya after more than a decade. The U.S. energy major first entered the Libyan market in 2004 but exited around 2010 following a series of unsuccessful exploration campaigns.
Chevron’s renewed engagement signals growing international interest in Libya’s upstream sector as the country seeks to revitalise investment, stabilise production, and unlock new reserves after years of political and operational challenges.
