Libya signs preliminary agreement with Chevron to assess shale oil and gas resources

ReutersApr 28, 2026 2:14 PM

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April 28 (Reuters) - Libya's National Oil Corporation (NOC) on Tuesday signed a memorandum of understanding with U.S. energy major Chevron to conduct a joint study to assess shale oil and gas reserves in number of the country's sedimentary basins, the head of NOC said in statement.

The statement said that preliminary estimates showed about 123 trillion cubic feet of gas and approximately 18 billion barrels of oil in the Libyan basins.

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