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Libya secures $20B in foreign investment for a 25-year oil deal to boost output to 850,000 bpd.
With the support of more than $20 billion in foreign investment, the Libyan government has inked a 25-year oil development agreement with TotalEnergies and ConocoPhillips to increase oil production capacity to 850,000 barrels per day through Waha Oil Company.
During the Libya Energy & Economic Summit in Tripoli, Prime Minister Abdulhamid al-Dbeibah announced the agreement, which is anticipated to bring in over $376 billion.
Libya also confirmed a cooperation agreement with Egypt's oil ministry and a memorandum of understanding with Chevron.
February 11, 2026 is the deadline for the results of the nation's first exploration bid round in more than 17 years.
Libia asegura $ 20B en inversión extranjera para un acuerdo de petróleo de 25 años para impulsar la producción a 850,000 bpd.