As part of a visit by to Libya Omani state upstream firm OQ Exploration and Production (OQEP), the company signed an MoU with sovereign wealth fund Libyan Investment Authority (LIA) on 2 June. The agreement covers “new horizons for investment partnership in exploration and production in the oil and gas sectors,” according to state media firm Oman News Agency.
OQEP has made no secret of its international expansion plans, and both Libya and Algeria are top of its list (MEES, 20 March). (CONTINUED - 80 WORDS)