Introduction 1- Libya signs preliminary agreement with Chevron to assess shale oil and gas resources

To add a statement

April 28 (Reuters) - Libya's National Oil Corporation (NOC) Chairman Masoud Suleiman Musa said on Tuesday that the corporation had signed a memorandum of understanding with U.S. energy giant Chevron "aimed at conducting a joint study to assess unconventional resources, primarily shale oil and gas, in a number of Libyan sedimentary basins."

He added in a statement, "Initial estimates indicate the presence of approximately 123 trillion cubic feet of gas, in addition to approximately 18 billion barrels of oil."

The statement read, "This agreement represents an important milestone in the development of Libya's energy sector, as we will work with Chevron to assess the promising potential of unconventional oil and gas resources in three of the most important sedimentary basins: the Sirte Basin, the Murzuq Basin, and the Ghadames Basin."


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.