Libya signs South Refinery contract with Honeywell

A subsidiary of Libya's state-owned National Oil Corp (NOC) has signed a contract with Honeywell for engineering work on the planned South Refinery project, estimated to cost between $500 million (€464 million) and $600 million (€557 million).

The project will be carried out in two phases.

NOC has previously said South Refinery will produce cooking gas, jet fuel and other products, including 1.4 million litres a day of petrol and 1.1 million litres a day of diesel.

Libya is seeking to bring foreign investment back into its energy sector after two and a half years of comparative peace following years of conflict.

It hopes to take advantage of increased demand for its oil and gas following supply concerns in Europe resulting from the war in Ukraine.

Last month the Tripoli-based government agreed to move ahead with an offshore gas project in cooperation with Italy's Eni.