Libya will sign a 25 year oil development agreement with TotalEnergies and ConocoPhillips, securing more than $20 billion in foreign investment. As a result, the deal aims to increase oil production capacity by up to 850,000 barrels per day. It will be signed through Waha Oil Company. Prime Minister Abdulhamid al-Dbeibah said the agreement could generate more than $376 billion in net revenues for the national economy.
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Libya Seals $20bn Oil Deal with Majors
Business
26/01/2026
Libya will sign a 25 year oil development agreement with TotalEnergies and ConocoPhillips, securing more than $20 billion in foreign investment. As a result, the deal aims to increase oil production capacity by up to 850,000 barrels per day. It will be signed through Waha Oil Company. Prime Minister Abdulhamid al-Dbeibah said the agreement could generate more than $376 billion in net revenues for the national economy.
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