Libya signs contract with Honeywell for Southern Oil Refinery | – #Libya #signs #contract #Honeywell #Southern #Oil #Refinery

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TRIPOLI, March 26 (Reuters) – Libya’s state-owned National A subsidiary of Neft Corp (NOC) on Sunday USAsaid that it has signed a contract with Honeywell (HON.O) for engineering works in the planned Southern Oil Refinery project. It will cost 500-600 million dollars.

NOC subsidiary “Zallaf For Oil And Gas Co” announced in its statement that the project will be implemented in two stages, but did not reveal the schedule of works.

1.4 million liters per day of the NOC previously Southern Oil Refinery gasoline and said it would produce cooking gas, jet fuel and other products, including 1.1 million liters of diesel.

After two and a half years of relative peace after years of conflict, Libya is trying to bring foreign investment back into its energy sector.

It hopes to take advantage of rising demand for its oil and gas amid supply concerns in Europe as a result of the war in Ukraine.

Last month, the Tripoli-based government agreed to go ahead with the offshore gas project in partnership with Italy’s Eni ( ENI.MI ).

However, national despite the election plan, political the situation remains unstable and even 2020After the ceasefire that ended the last major battle in October 2018, the armed groups stopped production many times.

Reuters Libya news report from his room; Edited by Angus McDowall and David Holmes

Our standards: Thomson Reuters Trust Principles.

2023-03-27 04:51:10
Source – reuters

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