Libya's NOC, ExxonMobil Restart Oil and Gas Collaboration

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Libya's National Oil Corporation (NOC) said on Monday it signed a memorandum of understanding (MoU) with U.S. oil giant Exxon Mobil after decade of activity halt in the north African country.

In its statement, NOC said the MoU focuses on conducting detailed geological and geophysical studies to identify the hydrocarbon resources in four offshore blocks located off the northwest coast and the country's Sirte Basin.

(Reuters - Reporting by Ayman al-Warfalli)