Chevron has entered Libya’s upstream sector after winning a block in the country’s 2025 licensing round and signing a co-operation deal with the National Oil Corporation, the company said on Wednesday.
Chevron was awarded Contract Area 106 in the Sirte Basin, with the award subject to finalising a production-sharing agreement. The company signed a MoU with the NOC in January 2026 to evaluate development and exploration opportunities onshore Libya.
“Chevron is excited to enter Libya with the award of onshore Contract Area 106… a good fit in our exploration strategy to grow our portfolio with high-quality acreage and high impact prospects,” Chevron vice-president of exploration Kevin McLachlan said.
The company said the agreement aligns with its focus on North Africa and the Eastern Mediterranean region and underscores its commitment to supporting Libya’s energy sector.
Chevron holds a broad exploration and production portfolio across the Mediterranean and Africa. In addition to Libya, it operates in Nigeria, Angola, Equatorial Guinea, Namibia, Guinea-Bissau and Egypt, and recently signed an MoU in Syria.
Apart from Chevron, the 2025 round also saw Eni and QatarEnergy secure offshore acreage, while Spain’s Repsol, Türkiye’s TPAO and Hungary’s MOL were awarded Offshore Area 07 and Nigeria’s Aiteo took the onshore Murzuq M1 block, according to the National Oil Corporation. The awards mark Libya’s first public oil and gas licensing round in 17 years and underscore renewed international interest in the country’s upstream sector.