Libya Signs Deal With Total, Conoco to Boost Oil Capacity.

The article focuses on Libya's recent agreement with TotalEnergies SE and ConocoPhillips to significantly increase production capacity at their Waha Oil venture, with investments projected to reach $20 billion over 25 years. The deal aims to boost output from approximately 350,000 barrels per day to 850,000 barrels per day, reflecting renewed interest in Libya's oil reserves following years of civil conflict. Additionally, the agreement includes the development of four new oil fields and a comprehensive exploration program across 19 concession areas, with estimated revenues exceeding $376 billion. Other agreements signed during the Libya Energy & Economic Summit include partnerships with Chevron Corp. and Egypt, highlighting Libya's potential as an attractive destination for global energy investments despite ongoing political challenges. [Extracted from the article]