TRIPOLI, Libya

Libya’s National Oil Corporation said late Thursday that it signed a memorandum of understanding with US-based energy company Chevron to prepare a technical study for the offshore “NC 146” block.

In a statement, the corporation included remarks from its chairperson, Mesud Suleiman, regarding the agreement signed with Chevron.

Suleiman said the memorandum of understanding covers the preparation of a comprehensive technical study for the “NC 146” offshore block.

He stressed that the block represents an area that will strengthen Libya’s national reserves and contribute to significant discoveries.

“This partnership is not only a technical agreement but also a message of confidence in Libya’s investment environment and evidence of the return of major companies to explore and operate in promising opportunities in our country,” Suleiman said.