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Story summary
- Libya signed a 25-year oil development agreement with TotalEnergies (France) and ConocoPhillips (U.S.-based) via Waha Oil Company.
- The deal involves over $20 billion in foreign investment and aims to increase production capacity by up to 850,000 barrels per day and generate net revenues exceeding $376 billion.
- During the Libya Energy and Economy Summit in Tripoli, Libya plans a memorandum with Chevron and a cooperation agreement with Egypt's oil ministry.
