Libya’s National Oil Corporation (NOC) has signed on Wednesday, June 10, a unified operating agreement with international partners aimed at improving efficiency and coordination in the (I/R) field within the Murzuq Basin in southwestern Libya.
The agreement involves partners in concessions NC115 and NC186, including Akakus Oil Operations, TotalEnergies, Repsol, Equinor and OMV. It seeks to consolidate operational and administrative processes governing the field to enhance performance and streamline resource management.
According to the NOC, the new framework is designed to strengthen cooperation among stakeholders, improve operational efficiency and optimise the use of oil resources while supporting sustainable production in the country’s energy sector.
Officials say the agreement represents a significant step toward improving governance and applying best industry practices in Libya’s upstream oil operations. It is also expected to reinforce investor confidence in the country’s energy sector, which remains central to national revenue generation.
The Murzuq Basin, one of Libya’s key oil-producing regions, continues to play a critical role in maintaining national output levels and supporting fiscal stability through petroleum exports.
