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These refining towers are at Libya's Zawiya oil refinery near Tripoli.

These refining towers are at Libya's Zawiya oil refinery near Tripoli.

These refining towers are at Libya's Zawiya oil refinery near Tripoli.

These refining towers are at Libya's Zawiya oil refinery near Tripoli.

Libya, on brink of civil war, opens Houston oil HQ

On the brink of an escalating civil war, Libya opened its new U.S. oil headquarters Wednesday in Houston with the hope of political stability and increasing petroleum output on the horizon.

Libya's national oil company opened its new office in the BBVA Compass Plaza on Post Oak Boulevard in the Galleria area.

The new headquarters will serve as Libya's procurement office as it seeks to buy equipment from American energy companies and contract with U.S. services firms.

Libya's oil output is hovering near 900,000 barrels a day, which is down from 2018 highs of more than 1 million barrels. But the North African nation aspires for a lot of petroleum growth if it get stabilize its political leadership and reach a ceasefire. Libya aims to grow above 2 million barrels daily by the end of 2021.

"This office is projected to source over $10 billion worth of equipment, technology and services within the next few years, in addition to employing Houstonians and serving as an additional resource in the business community," said David Phillips, chairman of the Bilateral U.S.-Arab Chamber of Commerce.

RELATED:Oil rises on optimism OPEC+ supply curbs will stabilize market

Mustafa Sanalla, the chairman of Libya National Oil Corp., and Mohamed Abdo Denbarno, the General Manager of the Houston office, marked the grand opening on Wednesday with a ribbon cutting ceremony.

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