Oman and Libya have deepened economic cooperation, with discussions focused on expanding collaboration in the energy sector and advancing investment opportunities that support sustainable development and economic diversification.
Abdul Hamid Dbeibeh, Prime Minister of Libya’s Government of National Unity, held talks with a delegation representing several Omani investment and energy companies to explore prospects for cooperation in the oil, gas, and renewable energy sectors.
The discussions also covered the development of joint projects facilitating knowledge transfer, strengthening technical expertise, and broadening economic partnership between the two countries.
The meeting highlighted the growing importance of regional cooperation in the energy industry, particularly as countries across the Middle East seek to diversify their economies and accelerate investment in sustainable energy solutions.
Both countries emphasized the need to capitalize on emerging opportunities in energy and related industries to serves mutual interests, promotes long-term economic growth, and contributes to national development objectives.
A key outcome of the discussions was the signing of a memorandum of understanding (MoU) between the Libyan Investment Authority and OQ Group.
The agreement establishes a framework for exploring investment and cooperation opportunities in the Libyan market, with a particular focus on sectors that can drive economic transformation and create long-term value.
The MoU supports Libya’s efforts to diversify its economy beyond traditional hydrocarbon revenues by attracting high-quality investments in strategic industries.
Areas of interest include clean energy projects, renewable power generation, energy infrastructure, and other value-added ventures capable of enhancing competitiveness and supporting sustainable economic development.
The agreement also reflects growing confidence among regional investors in Libya’s economic potential and its strategic position within North Africa.
For Oman, the collaboration aligns with broader efforts to expand the international footprint of its investment and energy companies while supporting regional economic integration.
The partnership is expected to open new avenues for cooperation in energy innovation, infrastructure development, and sustainable investment, reinforcing economic ties between the two nations and laying the groundwork for future joint ventures across multiple sectors.
