Libya announces $20b energy deal with TotalEnergies, ConocoPhillips

TRIPOLI, Jan 24: Libya said Saturday it signed an oil agreement worth more than $20 billion with TotalEnergies and ConocoPhillips, seeking to ramp up production by 850,000 barrels a day for the next 25 years.

Prime Minister Abdulhamid Dbeibah said the agreement with the French and American energy firms would bring in revenues of more than $370 billion over the 25-year life of the deal, adding it was fully financed outside the state budget.

The announcement came as the Libya Energy and Economic Summit opened in Tripoli, attended by US President Donald Trump's Middle East adviser Massad Boulos, along with other officials, including from Turkey and Egypt.    �"AFP