After a 10-year suspension of operations in Libya, U.S. energy giant ExxonMobil has signed a Memorandum of Understanding (MoU) with the National Oil Corporation (NOC) to conduct advanced technical studies in offshore areas near Sirte and along the country’s northwestern coast.
The agreement, signed in London by NOC Chairman Masoud Suleiman, outlines cooperation on geological and geophysical surveys in four offshore blocks, with the goal of identifying hydrocarbon resources and reopening the door to future joint exploration and production activities.
According to the NOC, the move reflects efforts to reestablish strategic partnerships with major U.S. energy firms. Chairman Suleiman noted that Libya’s contractual terms have been revised to align with global energy trends, offering more attractive conditions for international investment.
ExxonMobil is also among the companies expressing interest in the NOC’s current licensing round, which includes 22 offshore and onshore blocks available for exploration, including areas in and around the Sirte Basin.
The company previously operated in Murzuq Basin and Zahra Field before suspending its Libyan activities a decade ago due to instability.
The renewed partnership coincides with a visit to Libya by Masad Boulos, senior advisor to U.S. President Joe Biden, on 23 July 2025, during which a $235 million infrastructure agreement was signed with Hill International, signaling a broader return of American commercial engagement in Libya.