Chevron has taken another step towards returning to Libya’s upstream sector by signing a production-sharing agreement with the National Oil Corporation (NOC) covering exploration acreage in the Sirte Basin.
The agreement relates to onshore Area 106, also known as S4, for which Chevron was selected as the successful bidder in February under Libya’s 2025 exploration licensing round. The 7437 km² area reportedly contains a gas discovery with estimated 2P reserves of approximately 100 million barrels of oil equivalent, as well as several additional exploration leads.
Chevron’s progress from preferred bidder to a formal production-sharing agreement illustrates the renewed momentum in Libya’s upstream sector. It follows a memorandum of understanding signed with NOC in January and subsequent agreements to assess offshore Block NC146 and study Libya’s unconventional shale oil and gas potential in the Sirte, Murzuq and Ghadames basins.
Other acreage in the licensing round – Libya’s first since 2007 – was awarded to companies and consortia involving Eni, QatarEnergy, Repsol, TPAO, MOL and Aiteo. The awards support Libya’s efforts to attract international investment, expand its reserve base and increase oil and gas production.
Against this backdrop, EAGE and AAPG have announced the EAGE/AAPG Libya Petroleum & Geoscience Conference & Exhibition, to be held in Tripoli from 18–20 October 2027.
Organised with the distinguished support of NOC chairman and conference honorary chair H.E. Masoud Suleman, the event will bring together national oil companies, international operators, independent explorers, service companies, researchers and technical specialists.
Under the theme ‘Unlocking the Hydrocarbon Potential of North Africa and the Mediterranean’, the conference will examine the geological and technological challenges associated with Libya’s onshore and offshore basins. Topics include regional geology and basin analysis, seismic acquisition and subsurface imaging, reservoir engineering, production optimisation, drilling, field operations, decarbonisation and emerging digital technologies.
Particular attention will be given to exploration and development opportunities in the Sirte, Ghadames, Cyrenaica and Murzuq basins, as well as the Pelagian Shelf and other offshore Mediterranean plays.
The Call for Abstracts is now open, with submissions invited by 22 March 2027. View the conference details and submit an abstract.
