WS Investor
11 Feb 2026, 20:50
Chevron announced it has entered Libya after being designated the winning bidder for onshore Contract Area 106 in the Sirte Basin as part of the country’s 2025 Bid Round. The award follows a Memorandum of Understanding signed January 24, 2026 with Libya’s National Oil Corporation to evaluate onshore exploration and development opportunities.
The contract area award is subject to execution of a Production Sharing Agreement. Chevron said the move aligns with its strategy to expand high-quality exploration acreage in North Africa and the Eastern Mediterranean.
The company already holds a significant exploration and production portfolio across Africa and the Mediterranean, including positions in Nigeria, Angola, Equatorial Guinea, Namibia, Guinea-Bissau and Egypt, and recently signed an MoU in Syria.
Source: Chevron press release.
The contract area award is subject to execution of a Production Sharing Agreement. Chevron said the move aligns with its strategy to expand high-quality exploration acreage in North Africa and the Eastern Mediterranean.
The company already holds a significant exploration and production portfolio across Africa and the Mediterranean, including positions in Nigeria, Angola, Equatorial Guinea, Namibia, Guinea-Bissau and Egypt, and recently signed an MoU in Syria.
Source: Chevron press release.