TRIPOLI, April 29 – Libya’s National Oil Corporation (NOC) has signed a memorandum of understanding with Chevron to jointly assess shale oil and gas potential across multiple sedimentary basins in Libya.
The agreement focuses on conducting technical studies to evaluate the scale and commercial viability of unconventional energy resources in the country.
According to preliminary estimates cited by NOC, Libya’s basins may hold around 123 trillion cubic feet of natural gas and approximately 18 billion barrels of oil, highlighting significant untapped potential.
If confirmed, these reserves could position Libya as a major player in the global shale energy market, complementing its already substantial conventional oil production.
The partnership with Chevron reflects renewed international interest in Libya’s energy sector, as the country looks to attract investment, expand exploration, and modernize its oil and gas industry after years of instability.
The study is expected to provide critical data that will guide future development decisions and potentially open new avenues for large-scale energy production.
