Libya, Equinor sign MoU to study offshore oil, gas potential

Libya's National Oil Corporation (NOC) and the Norwegian energy company Equinor have signed a memorandum of understanding (MoU) to study and evaluate the oil and gas potential offshore Libya, NOC announced on October 17. 

The signing took place at the presidential office in the capital, Tripoli, and was witnessed by senior Libyan and Norwegian officials.

The MoU also includes plans to train national personnel in the oil and gas sector. This will help to build capacity in the Libyan oil and gas industry and ensure that Libyans are able to benefit from the development of the country's offshore resources.

Equinor has been present in Libya for more than 29 years with onshore exploration and oil production activities. It participates in licences in the Mabruk field (NC 017) and in the Murzuq basin (NC 186 and I/R field).

Political and security challenges over the past decade have negatively affected the oil and gas industry in the country.