NOC Inks Production-Sharing Deal with Chevron Amid 2025 Bidding Round Implementation

The National Oil Corporation (NOC) has signed a production-sharing agreement with Chevron as part of implementing the results of the 2025 bidding round. According to Masoud Suleiman, Chairman of the NOC, this agreement reflects the corporation's commitment to developing Libya's oil and gas sector through partnerships with major international companies.

This step is seen as a significant move towards exploring and developing Libya's resources, and the NOC looks forward to a successful partnership with Chevron that will contribute to increased production and investment. The agreement is part of the NOC's strategy to attract quality investments, expand its international partnerships, develop reserves, and increase production rates.