ExxonMobil has signed a deal with Libya's state oil company to explore offshore energy deposits.
US oil firm ExxonMobil has signed a deal yesterday with Libya's state oil company to explore offshore energy deposits.
Exxon and Mobil once had significant business interests in Libya, but the companies pulled out of Libya in the early 1980s after US-Libyan relations deteriorated.
Now the sacntions are lifted, and Libya has offered exploration licences to a number of mainly European and Asian companies.
The agreement with ExxonMobil covers the exploration of an area covering 2.5 million acres in the Cyrenaica Basin, one of the country's largest energy fields.