As part of the activation of the Memorandum of Understanding signed yesterday between the Libyan Investment Authority and OQ Exploration & Production, in the presence of the Prime Minister, Chairman of the Board of Trustees of the Authority, Dr. Ali Mahmoud Hassan, Chairman and CEO of the Authority, held a meeting this afternoon, Tuesday, 2 June 2026, with the Group CEO of OQ, Mr. Ashraf Al Mamari. The meeting was dedicated to following up on the practical steps for activating the provisions of the Memorandum, and discussing cooperation priorities and projects of mutual interest.

The meeting addressed the future action plan and coordination mechanisms between the two sides, in a manner that ensures translating the provisions of the Memorandum into practical and implementable projects, and enhances the investment partnership between both parties in the fields of oil, energy, and joint investments.

Dr. Ali Mahmoud Hassan affirmed that this partnership represents an important strategic step in the path of cooperation between the Libyan Investment Authority and Oman’s OQ, emphasizing that the Authority looks forward to developing sustainable cooperation relations based on the exchange of expertise and the enhancement of joint investment opportunities, in a way that achieves long-term economic returns and supports the mutual interests of both sides.

He also explained that the coming phase will witness intensive work at the level of technical committees and specialized teams from both sides to develop executive programs and identify economically viable projects, in preparation for moving to the actual implementation phase according to clear timelines.