Int'l Oil Corporations Look Forward to Investing in Libya

Several international oil corporations are looking forward to investing in Libya after the state gains its political and security stability.

One of the global companies that started its activities in Libya is TotalEnergies, on the other hand, Eni will start its investments in oil, natural gas, and solar power projects after the forthcoming presidential elections.

It's worthy to mention that President Abdel Fattah El Sisi affirmed to Mohamed al-Menfi, Head of the Presidential Council of Libya, Egypt’s full support for the political path to settle the Libyan crisis in all bilateral, regional, and international forums.

“During a phone call on Tuesday, Sisi stressed Cairo’s keenness to strengthen close coordination with the Libyan side during the current period to ensure the unification of Libyan institutions in order to hold national elections on their scheduled date on 24 December,” said Presidency Spokesperson Bassam Rady.

The President also said that the upcoming elections must be based on the laws approved by the Libyan Parliament, as an important and landmark step for Libya’s transition to a new reality and a sustainable political system based on the will of the Libyan people by their free choice.

On his side; Menfi expressed his sincere appreciation for the tireless Egyptian efforts and sincere support for Libya since the outbreak of the crisis, within the framework of Egypt’s role under the wise leadership of Sisi.

He also lauded the vital role of transferring the Egyptian development experience to Libya and benefiting from the experience and capabilities of reputable Egyptian companies in this regard.

Rady added that the call witnessed a review of efforts to restore security and stability in the Libyan state.