French publication Africa Intelligence reported on Thursday that major oil companies are facing uncertainty regarding petroleum concession agreements in Libya.
According to the report, the Libyan National Oil Corporation (NOC) is seeking to formalize the signing of concession agreements in an effort to attract new investors, including QatarEnergy, Turkish Petroleum, and the MOL Group, to the Libyan market.
However, concerns over the legality and validity of these contracts are reportedly causing unease among industry stakeholders, according to the French publication. The uncertainty surrounding the legal framework of the agreements could affect investor confidence and the pace of new investments in Libya’s oil sector.
