Libya Signs Historic 20 Billion Dollar Oil Development Deal With Global Partners
Libya announced a 25-year oil agreement worth 20 billion dollars on Saturday. The deal aims to boost production and generate massive revenue for the nation.
Insights:
Libyan Prime Minister Abdulhamid al-Dbeibah abdulhamid al dbeibahannounced on January 24, 2026, that Libya 
LYwill sign a 25-year oil development agreement with TotalEnergies SE and ConocoPhillips . The landmark deal, set to be finalized on Saturday, January 25, 2026, involves more than $20 billion in foreign-financed investment. This strategic partnership was unveiled during the Libya Energy and Economy Summit held in Tripoli and marks a major commitment to expanding the production capacity of the nation.
LYwill sign a 25-year oil development agreement with TotalEnergies SE and ConocoPhillips . The landmark deal, set to be finalized on Saturday, January 25, 2026, involves more than $20 billion in foreign-financed investment. This strategic partnership was unveiled during the Libya Energy and Economy Summit held in Tripoli and marks a major commitment to expanding the production capacity of the nation.The agreement is designed to boost production capacity by up to 850,000 barrels per day and is expected to generate net revenues exceeding $376 billion over the next quarter-century. This initiative is particularly significant for the recovery of Crude Oil WTI output in the region, as the country seeks to leverage its status as one of the largest oil producers in Africa. The deal is signed through the Waha Oil Company, which is a subsidiary of the National Oil Corporation in Libya.
