Recent comments from US major ConocoPhillips, which alongside TotalEnergies (20.41% each) partners NOC (59.18%) at Libya’s key 300,000 b/d-capacity Waha fields, suggest Libya continues to form a key part in its portfolio but that better terms are needed for it to splash the cash on long-stalled expansion projects.

Speaking on his firm’s 12 April Investors’ Day, SVP Global Operations Andy O’Brien flagged up the position of Waha right at the lower end of the company’s global production cost curve at just over $10/boe. Having “high-graded the portfolio,” Libya is now just one of four countries where Conoco has international conventional assets. (CONTINUED - 380 WORDS)