{"id":22844,"date":"2026-01-24T10:36:54","date_gmt":"2026-01-24T08:36:54","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/libya-to-sign-25-year-deal-with-totalenergies-conocophillips-to-bring-over-20-billion-in-investment\/"},"modified":"2026-02-27T16:33:44","modified_gmt":"2026-02-27T14:33:44","slug":"libya-to-sign-25-year-deal-with-totalenergies-conocophillips-to-bring-over-20-billion-in-investment","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/libya-to-sign-25-year-deal-with-totalenergies-conocophillips-to-bring-over-20-billion-in-investment\/","title":{"rendered":"Libya to sign 25-year deal with TotalEnergies, ConocoPhillips"},"content":{"rendered":"<p>Libya will sign a 25-year oil development agreement this Saturday with France&#8217;s TotalEnergies and United States (US) based ConocoPhillips, involving \u200cmore than $20 billion in foreign-financed investment and aimed at boosting production capacity by up to 850 000 barrels per day, Prime Minister \u200cAbdulhamid al-Dbeibah said.<\/p>\n<p>&nbsp;<\/p>\n<p>Signed through Waha Oil Company, a subsidiary of Libya&#8217;s state-run National Oil Corporation, the deal is expected to \u200dgenerate net revenues of more than $376 billion, Dbeibah said in a post on X.<\/p>\n<p>&nbsp;<\/p>\n<p>Dbeibah said that Libya \u2060will also sign a memorandum of \u200dunderstanding with US oil major Chevron and a cooperation \u200cagreement \u200cwith Egypt&#8217;s Oil Ministry.<\/p>\n<p>&nbsp;<\/p>\n<p>Libya is one of Africa&#8217;s biggest oil producers, but output has been disrupted repeatedly in the chaotic decade \u2060since 2014, \u2060when the country split between rival authorities in the east and west following the NATO-backed uprising that toppled \u200dMuammar Gaddafi.<\/p>\n<p>&nbsp;<\/p>\n<p>The agreements reflect &#8220;the strengthening of Libya&#8217;s relations with its largest and most influential international partners in the global energy \u200dsector, ultimately generating additional resources for the national economy,&#8221; Dbeibah said.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;Reuters&#8211;<\/p>\n","protected":false},"featured_media":15734,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-22844","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Libya will sign a 25-year oil development agreement this Saturday with France's TotalEnergies and US based ConocoPhillips","published_date":"2026-01-24 12:36:41","news_description":"Libya will sign a 25-year oil development agreement this Saturday with France's TotalEnergies and US based ConocoPhillips","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22844\/revisions"}],"predecessor-version":[{"id":26006,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22844\/revisions\/26006"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/15734"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=22844"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=22844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}