Libya’s National Oil Corporation (NOC) is preparing to sign two major agreements with leading US energy companies, ExxonMobil and ConocoPhillips, aimed at boosting the country’s oil and gas production. The announcement was made by Masad Boulos, Senior Advisor to the US President for Middle East and Africa Affairs, in a video shared by the US Embassy on Friday.
Boulos confirmed that a memorandum of understanding between NOC and ExxonMobil is expected soon. The agreement will focus on offshore gas exploration studies, which he said would enhance Libya’s capabilities in the energy sector and attract new investment.
In addition, Boulos revealed that a second agreement is being finalised with the Waha Oil Company’s partners, including ConocoPhillips, to develop key oilfields. “This deal involves millions of dollars in investments and is expected to nearly double Waha Oil’s production capacity,” he stated.
The US official emphasised that these partnerships reflect a shared interest in strengthening energy cooperation. “Together, we are building stronger ties that will make both America and Libya more prosperous,” he said.
Earlier this week, Boulos attended a signing ceremony for a $235 million contract between NOC and US-based Hill International. The agreement supports the development of the A and B structure projects, which are expected to contribute significantly to Libya’s oil infrastructure.
These upcoming deals underline NOC’s strategy to attract international expertise and capital to revitalise Libya’s energy industry, which remains the backbone of the national economy.
