The National Oil Corporation (NOC) has signed a memorandum of understanding (MoU) with Chevron to conduct a joint study on the potential of unconventional shale oil and gas resources in Libya.

The agreement will focus on three major sedimentary basins: Sirte, Murzuq, and Ghadames. Technical teams from both organizations will collaborate to review existing geological and seismic data, aiming to assess the feasibility and development potential of these resources.

Preliminary estimates indicate significant reserves, with approximately 123 trillion cubic feet of gas and around 18 billion barrels of oil. If confirmed, these figures could substantially strengthen Libya’s national reserves and reinforce its position in global energy markets.

NOC Chairman, Engineer Masoud Suleman, described the MoU as a strategic milestone. He emphasized that the agreement not only supports Libya’s long-term energy strategy but also opens the door for similar collaborations in the future. According to Eng. Masoud Suleman, the NOC continues to prioritize exploration efforts, which have already yielded promising results.

This initiative also marks Libya’s first joint study dedicated to unconventional resources. Beyond its technical objectives, the partnership is expected to play a key role in capacity building. Libyan professionals will work closely with Chevron’s experts, gaining hands-on experience and advancing their technical and operational capabilities in this specialized field.

By combining international expertise with local talent development, the collaboration reflects a broader vision: positioning Libya at the forefront of unconventional energy exploration while building a skilled workforce capable of leading future projects independently.

‍