00:00Libya has signed a 25-year oil deal with France's Total Energy and U.S.-based ConocoPhillips
00:06involving more than $20 billion of foreign investments.
00:10Prime Minister Abdulhamid Abdeba announced a new agreement
00:13during the Libya Energy and Economy Summit in Tripoli on Saturday.
00:17The deal was signed through Waha Oil Company,
00:20a subsidiary of Libya's state-run national oil corporation.
00:23We will do our best to bring in the green fields
00:27and then also to focus on the brown fields as part of the production enhancement
00:36and hopefully by getting both going simultaneously we'll be able to increase the oil production.
00:45The new agreement should boost oil production capacity by up to 850,000 barrels per day
00:50according to the Prime Minister.
00:52It is also expected to generate over $376 billion of net revenues.
00:59So Libya has always been under the radar as far as we are concerned
01:03in our line of service for oil control, prevention and intervention.
01:09But the recent development and the stabilization of the country
01:13helped us to take the decision to put back Libya onto our roadmap.
01:18The government also signed a memorandum of understanding with U.S. oil giant Chevron
01:24and a cooperation agreement with Egypt's oil ministry.
01:27The Libyan Prime Minister also revealed that the country's oil output
01:31reached its highest level in 12 years in 2025.
01:35Thank you
01:48.
01:48Thank you
01:48.
01:49.
01:50.
01:51.
01:51.
01:52.
01:52.
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