Libya to sign 25-year deal with TotalEnergies, ConocoPhillips to bring over $20 billion in investment

Summary

Libya will sign a 25-year oil development agreement on Saturday with France’s TotalEnergies and U.S.-based ConocoPhillips, involving more than $20 billion in foreign-financed investment and aimed at boosting production capacity by up to 850,000 barrels per day, Prime Minister Abdulhamid al-Dbeibah said. Signed through Waha Oil Company, a subsidiary of Libya’s state-run National Oil Corporation, [Read more]

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