Chevron Strikes Oil Deal with Libya Amid Ongoing Political Tensions

Libya's National Oil Corporation (NOC) has signed an oil exploration deal with US energy giant Chevron, despite the country's ongoing political and security divisions. The agreement covers a block in Libya's Sirte Basin and is part of an international tender launched by the NOC in 2025.

The deal will support the exploration and development of Libya's resources and enable the NOC to benefit from Chevron's technical expertise and advanced technology, according to the company. Chevron confirmed the agreement, which was awarded to the firm in February, saying it 'looks forward to working with NOC and other key stakeholders in Libya.'

Libya relies heavily on oil exports for government revenues, making the expansion and protection of the energy sector a central priority for the country's authorities.