Libya seeks energy production growth through private partnerships
Libya’s National Oil Corporation (NOC) has signed a production sharing agreement with Chevron while the country’s oil minister held investment talks with ConocoPhillips in Norway, as reported by Libya Herald and agencies on August 24th.
The two developments point to a wider effort by Libya to convert renewed foreign interest in its oil sector into production growth, NOC chairman Masoud Suleiman said the Chevron agreement forms part of the implementation of Libya’s 2025 bidding round and reflects the corporation’s strategy to attract quality investment, expand international partnerships, develop reserves and increase output.
Chevron’s return is tied to one of Libya’s most important energy objectives, rebuilding confidence after years in which political instability, armed conflict and institutional division repeatedly disrupted investment.
Libya still has major oil and gas potential but turning that potential into production requires capital, technology and credible long term partnerships.
At the same time, Oil and Gas Minister Khalifa Abdel Sadig met ConocoPhillips executives on the sidelines of the ONS energy conference in Stavanger, Norway, the talks focused on the company’s investment plans, development programmes for the Waha concessions, production increases, modern technology and the development of Libyan technical expertise.
Waha remains one of Libya’s major producing assets and is linked to the country’s wider ambition to raise output through drilling, maintenance and infrastructure development, Abdel Sadig urged faster implementation of investment and development projects, saying obstacles must be addressed in order to support production growth and strengthen the long-term partnership with ConocoPhillips.
The objective is not only to sign agreements but to use international companies to bring technology, financing and operational experience back into a sector that still carries the burden of years of underinvestment.
Energy diplomacy is becoming one of Libya’s main tools for economic recovery, US companies offer the NOC both technical credibility and political weight at a time when Washington is also increasing its engagement with Libya’s institutional and economic files.
Libya Herald and agencies, maghrebi.org
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