TOTALENERGIES is upping its investments in Libya, with commitments to spend billions of dollars on conventional hydrocarbon and renewables projects. The French operator plans to boost its own oil production thereby contributing to the troubled North African nation's goal of boosting crude output to 2 million barrels per day and supplying volumes to global markets. TotalEnergies this week signed various agreements for the sustainable development of the country's natural resources with the host government during the Libya Energy & Economy Summit, the first economic conference to take place in a decade in the North African nation. The French operator agreed to develop production capacity of the Waha concessions, notably the 100,000 barrels per day North Gialo project, representing a $2 billion investment. TotalEnergies will also invest in gas gathering projects to reduce flaring and supply power plants in the region and utilise solar energy to power Waha's industrial facilities.
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