Tue. Nov 12th, 2024

Several Libyan media outlets have reported that the Libyan government, headed by Abdelhamid Dibaba, intends to grant foreign companies significant concessions in an oil field.

Media reported that the government will sign a contract early next year under which it will cede approximately 40% of the production of the Hamada al-Hamra field to foreign companies.

The consortium includes Italy’s Eni, UAE’s ADNOC and Turkey’s Energy Company.

The Libyan government’s move sparked mixed reactions between rejection and a description of the move as a political deal and a sale of Libyan assets.

The Libyan parliament rejected the move, stressing that the field contains very large reserves of gas, oil and condensate, which makes offering it for investment and foreign partnership a great loss for the Libyan state, especially since providing the necessary funding is possible locally, which was confirmed by oil experts in their appeal to stop this deal, according to a statement.

The parliament stressed that “the Debbie government does not have any legitimacy to sign, and has created an illegal energy council through which it tries to pass suspicious deals or deals of a political nature in the oil sector,” warning the concerned countries against “getting involved in exploiting the conditions that Libya is going through in order to loot its wealth and extort for corrupt deals or inflicted serious damage to the country and its economy.”

The Debbie government did not issue any comment in this regard or respond to the Libyan parliament’s statement, but people close to it said that it is proceeding with the agreement or may have already signed it secretly, especially since it controls this field and that the move came in agreement with the head of the oil corporation close to Dibaba.

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