French and Italian energy firms line up partnership with nation holding Africa’s biggest oil reserves
France’s TotalEnergies and Italy’s Eni say they are ready to invest billions of dollars in Libya as the Opec nation emerges from a decade of conflict and civil war.
The Paris-based firm will put $2bn into Libya’s Waha oil project, which will boost production by 100,000 barrels a day, he said. It will also work to raise output at the Mabruk field and help build 500MW of solar power to feed the local grid. The nation contains Africa’s biggest oil reserves but has been mired in fighting for much of the period since 2011 when leader Muammar Gaddafi was toppled in an uprising. Warring sides struck a truce in mid-2020, leading to more stability and enabling crude output to rise from barely anything to about 1.1-million barrels a day.
Dbeibah said this week that he will run for the presidency, joining a field that includes Saif al-Islam Qaddafi, a son of the former dictator, and eastern-based commander Khalifa Haftar.
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