Libya’s state-run National Oil Corporation (NOC) announced on Sunday that it will soon host a major energy forum with the United States. This key event is aimed at boosting partnerships and attracting new investment into the North African country’s vital oil and natural gas sector.
The forum, for which a date has not yet been set, will be held in partnership with U.S. company Freedom First and will bring together representatives from leading American energy firms, as well as Libyan officials and investors. Libya is one of the continent’s biggest oil producers, but its output has been repeatedly disrupted in a chaotic decade since the 2014 split between rival authorities.
The political instability followed the NATO-backed uprising that ultimately toppled longtime leader Muammar Gaddafi. The upcoming forum hopes to encourage a new era of stability and cooperation in the nation.
The announcement comes after the NOC recently signed a memorandum of understanding with U.S. oil giant ExxonMobil, marking a significant return after a decade of inactivity in Libya due to security concerns. This recent deal signals a renewed interest from U.S. companies in the country’s substantial energy resources.