Chevron Secures Sirte Basin Block and Taps 150,000 BPD Venezuelan Crude
Chevron has secured an exploration block in Libya’s Sirte Basin, expanding its upstream footprint in North Africa. It has also begun collecting and processing Venezuelan crude at 150,000 barrels per day, enhancing its global oil throughput capacity.
1. Libya Sirte Basin Exploration Block
Chevron has secured an exploration block in Libya’s Sirte Basin under a production‐sharing agreement, granting onshore seismic and drilling rights. The award positions the company to deploy survey crews and evaluate reservoir potential in one of North Africa’s key hydrocarbon provinces.
2. Venezuelan Crude Collection and Processing
Chevron commenced the collection and processing of Venezuelan crude at rates up to 150,000 barrels per day under existing service arrangements. The volumes are being integrated into Chevron’s refining and logistics network to optimize throughput and support global supply operations.