What did Libya's National Oil Corporation and Chevron agree to do according to the news?

Libya's National Oil Corporation (NOC) signed a memorandum of understanding with U.S. energy major Chevron to conduct a joint study to assess shale oil and gas reserves in several of Libya's sedimentary basins.

What are the preliminary estimates of Libya's shale oil and gas resources cited in the news?

The NOC statement cited preliminary estimates of approximately 123 trillion cubic feet of gas and about 18 billion barrels of oil in Libya's sedimentary basins.

Libya Signs Preliminary Agreement with Chevron to Assess Shale Oil and Gas Resources

Apr 28, 2026

Libya's National Oil Corporation signed an MOU with Chevron to assess shale oil and gas reserves. Preliminary estimates suggest the basins hold approximately 18 billion barrels of oil and 123 trillion cubic feet of gas.

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Libya Signs Preliminary Agreement with Chevron to Assess Shale Oil and Gas Resources