Libya’s National Oil Corporation (NOC) has signed a memorandum of understanding with U.S. energy giant ExxonMobil to conduct advanced technical studies on four offshore blocks located off the country’s northwest coast and in the Sirte Basin.
The agreement, signed in London by NOC’s acting chairman Masoud Suleiman, marks a potential revival of the partnership between the two entities after a decade-long hiatus. It includes geological and geophysical surveys aimed at identifying hydrocarbon prospects in the designated areas.
Suleiman described the deal as a gateway to renewed cooperation with American energy firms, citing long-standing ties and shared expertise in oil and gas development. He praised Libya’s national workforce for its role in exploration and drilling, and reaffirmed the NOC’s commitment to expanding international partnerships.
The announcement follows Libya’s March 2025 licensing round, which offered 22 onshore and offshore zones for global investment, a move seen as part of broader efforts to attract foreign capital and restore confidence in the country’s energy sector.
