U.S. law firms may not yet be combing the streets of Tripoli for office space, but they’re eyeing Libya as a market that could take off in the next few years as ever-improving relations between the North African nation and the United States open a spigot of oil-related work.
The Bush administration’s recent announcement that it was restoring full diplomatic ties with Libya and notification to Congress that it will take the country off the list of state sponsors of terrorism will make life easier for American oil companies that returned to Libya after the United States lifted the majority of its 18-year-old sanctions in 2004.
