Libyan Investment Authority, Oman's OQ Discuss MoU Activation

Libyan Investment Authority (LIA) Chairman and CEO Ali Mahmoud Hassan met with OQ Group Chairman Ashraf Al-Maamari in Tripoli to advance a newly signed memorandum of understanding. The agreement, activated on June 2, follows an MoU signed between the LIA and OQ Exploration and Production on June 1, with Prime Minister Abdel Hamid Aldabaiba present.

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this partnership represents a significant strategic step in the cooperation between the LIA and OQ.

The discussions centered on the practical implementation of the MoU's provisions. Both sides explored cooperation priorities and projects of mutual interest, aiming to translate the agreement into actionable initiatives. The goal is to bolster the investment partnership between Libya and Oman in the oil, energy, and joint investment sectors.

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the LIA looks forward to developing sustainable cooperative relations based on the exchange of expertise and the enhancement of joint investment opportunities, which will achieve long-term economic returns and support the shared interests of both parties.

Hassan described the partnership as a "significant strategic step," expressing the LIA's commitment to developing sustainable relations based on expertise exchange and enhanced joint investment opportunities. He anticipates long-term economic returns and support for shared interests. The next phase will involve intensive work by technical committees and specialized teams to create executive programs and identify economically feasible projects, with clear timelines for actual implementation.

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the next phase will witness intensive work at the level of technical committees and specialized teams from both sides to develop executive programmes and identify economically viable projects, in preparation for moving to the actual implementation phase according to clear timetables.