Libya is looking to revive previously suspended contracts with Russian companies in the oil and gas sector, a representative of the Libyan Presidential Council — the country’s de facto head-of-state body — told TASS.
“We see promising opportunities for cooperation, particularly in reconstruction (including infrastructure and energy projects), security (training Libyan forces and counterterrorism), and the economy,” the official said. He emphasized that in the economic sphere, “resuming contracts with Russian companies in the oil and gas industry” is viewed as a key area of interest.
On the political front, the representative noted that Libya values Russia’s support at international forums in defending the country’s unity and sovereignty.
“We have repeatedly called — perhaps most importantly during the meeting between the two presidents [President of the Presidential Council Mohamed al-Menfi and Russian President Vladimir Putin] in St. Petersburg — for urgent reactivation of the joint committee’s work,” he added.
Al-Menfi met with President Putin in July 2023 during the Russia-Africa Summit in St. Petersburg.
Foreign company presence in Libya, including Russian firms, has significantly declined since 2011 due to instability and ongoing challenges in the energy sector. Many contracts were suspended during this period. In May 2024, Libya’s Minister of Investment, Elgaidi Ali Saidi Saad, stated at the “Russia–Islamic World: KazanForum” that Libya is prepared to sign a deal with Russian oil company Tatneft to build a refinery within Libyan territory.
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Photo: Federation Council
Based on TASS materials