Zallaf, a subsidiary of Libya's state-owned National Oil Corp signed an agreement with U.S. "Honeywell" group to establish a refinery in the south of the country, with investments between $500 million and $600 million.
The National Oil Corporation stated on Wednesday that the refinery will be established near the Sharara oil field, 900 km southwest of Tripoli, which is one of the largest oil fields in Libya, with a capacity of 300,000 barrels per day.
The energy sector in Libya has witnessed remarkable momentum recently, and earlier the state-owned NOC expected more deals with foreign companies after the Italian company, Eni, announced last January an investment of $8 billion to extract natural gas in the country.
On the sidelines of today's signing of the agreement, it was confirmed that the project will contribute to creating job opportunities, providing fuel of all kinds, and developing the location of the cities of the south.
According to the NOC, crude oil production reached 1.208 million barrels, and condensate production reached 54,000 bpd during the past twenty-four hours.
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