Libya’s state-owned National Oil Corporation (NOC) has signed a Memorandum of Understanding (MoU) with international energy company Equinor to study and evaluate the North African country’s offshore oil and gas potential.
The agreement was signed by the Chairman of Libya’s NOC, Farhat Bengdara, and Equinor’s Head of Africa, Nina Birgitte Koch, in Libya’s capital city of Tripoli, and will facilitate in-depth research and evaluation into untapped energy resources in Libya’s maritime territory.
In addition to oil and gas evaluation, the MoU includes plans to train young national personnel in the country’s oil and gas sector, demonstrating the NOC’s commitment to capacity-building and long-term sustainability of the industry.
Present in Libya for over 29 years, Equinor holds interests in the North African country’s Mabruk field and is a partner in the resource-rich Murzuq basin, which includes the NC-186 license and I/R field.