The deal involves more than $20 billion in foreign-financed investment, Libyan Prime Minister Abdulhamid al-Dbeibah said.
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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, Prime Minister Abdulhamid al-Dbeibah said.
Signed through Waha Oil Company, the deal aims to boost production capacity by up to 850,000 barrels per day (bpd) and is expected to generate net revenues of more than $376 billion, Dbeibah said in a post on X.
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