Libya has signed a 25-year agreement with TotalEnergies and ConocoPhillips for investments of over 20 billion dollars, aiming to increase oil production.
Raluca Ioana Draghici
.webp)
International
www.shutterstock.com
Always see our news on Google
Libya has signed a significant oil development agreement with TotalEnergies (France) and ConocoPhillips (USA), which will take place over a period of 25 years and will involve foreign investments of over 20 billion dollars, according to Prime Minister Abdulhamid al-Dbeibah. The contract, concluded through Waha Oil, aims to increase production capacity to up to 850,000 barrels per day, generating estimated net revenues of over 376 billion dollars. Current daily production ranges between 340,000 and 400,000 barrels. The Prime Minister also announced a memorandum of understanding with Chevron and a cooperation agreement with the Ministry of Petroleum of Egypt, all signed during the Libya Energy and Economy Summit. These initiatives underscore the strengthening of Libya's relationships with international partners in the energy sector, in the context of the political instability that has affected oil production over the past decade.
Sources
Libia semnează un acord de dezvoltare petrolieră pe 25 de ani cu TotalEnergies şi ConocoPhillips, investiţii de peste 20 miliarde de dolari
Libia semnează un acord de dezvoltare petrolieră pe 25 de ani cu TotalEnergies şi ConocoPhillips
Libia semnează acord pe un sfert de secol de zeci de miliarde de dolari cu 2 giganți petrolieri occidentali
Latest News
23:03
Kallas says Usmanov and Fridman will not return to the EU list anytime soon, while sanctions on more than 3,000 individuals and entities are extended until 2029
22:56
Cristian Tudor Popescu: Luca Niculescu cannot form a government under the current political configuration
22:50
Iranian President Masoud Pezeshkian rejects negotiations with the US: “They make no sense”
22:49
Vladimir Putin approves the reorganization and sale of UniCredit’s Russian subsidiary
22:41
Moldova is gradually extending VAT and excise duties to goods brought in by operators from Transnistria as part of its economic reintegration strategy
See more news
NEWS ON THE SAME TOPICS
Personalized news feed, AI-powered search, and notifications in a more interactive experience.
