NOC and Equinor Sign MOU to Evaluate Oil Capabilities

Thursday, October 19, 2023

Libya’s National Oil Corporation Chairman Farhat Bengdara has signed a memorandum of understanding with the Norwegian company Equinor. This memorandum aims to study and evaluate the oil and gas potential in the Libyan maritime region.

The MoU also includes plans to train young national personnel in the oil and gas sector.

Since the revolution, the North African country has struggled to attract investment into its oil sector. In recent months several force majeures have been lifted which sends a positive sign to would-be investors interested in some of the region’s most attractive oil and gas exploration basins.

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