Chevron, NOC to evaluate offshore Libya exploration block as SLB restructures local operations
Chevron and Libya’s NOC have agreed to jointly study the technical potential of offshore Block NC146, while SLB moves to create a standalone Libyan entity aimed at improving operational responsiveness.
The NOC has decided to separate SLB’s Libya operations from North Africa management. The Libya operations will become an independent operating entity under the name LIG, reporting directly to Middle East and North Africa (MENA) regional management.
National Oil Co. (NOC) and Chevron have signed a memorandum of understanding to perform technical studies of offshore Block NC146 in the Libyan sector of the Mediterranean Sea.
NOC Chairman Masoud Suleman said geological indicators suggest this unexplored area offers potential for significant discoveries and that partnering with Chevron would provide access to deployment of advanced technology and best practices in offshore exploration.
This will report directly to Middle East and North Africa regional management.
Restructuring, SLB believes, should lead to improved responsiveness to NOC’s goals of boosting production output and encouraging competitiveness in its oil and gas sector.
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.
