Halliburton and Honeywell in talks to develop oil fields and refineries in Libya - THE LIBYA UPDATE

Friday, March 24, 2023

Halliburton and Honeywell International Inc. are hammering out $1.4 billion worth of deals to develop an oil field and refinery with National Oil Corporation in Libya, the Wall Street Journal reports, citing the chairman of state-owned firm, Farhat Bengdara.

Libya’s NOC and Honeywell are set to unveil a contract related to the construction of a refinery in southern Libya, Bengdara and a spokesman for the American firm told the Wall Street Journal. The initial deal, expected to be announced this weekend, is for the design of the plant, the spokesman said, which would be followed by a $400 million pact to build the entire plant.

This announcement notably comes after U.S. Secretary of State Antony Blinken told a senate committee on Wednesday that the U.S. was actively working to reopen an embassy in Libya, in part so it could better support the prospect of Libyan elections. The U.S. shut its embassy in Tripoli in 2014 following violent clashes between militias.

Italy's Eni signs $8 billion Libya gas deal as PM Meloni visits Tripoli - REUTERS

January 29, 202310:06 AM GMT+2

Gavin Jones

ROME/TRIPOLI, Jan 28 (Reuters) - Italian energy company Eni and Libya's National Oil Corporation (NOC) signed an $8 billion gas production deal on Saturday aimed at boosting energy supplies to Europe despite the insecurity and political chaos in the North African country.

The deal, signed during a visit to Tripoli by Italy's Prime Minister Giorgia Meloni, aims to increase gas output for the Libyan domestic market as well as exports, through the development of two offshore gas fields.

Output will begin in 2026 and reach a plateau of 750 million cubic feet per day, Eni said in a statement.

"This agreement will enable important investments in Libya's energy sector, contributing to local development and job creation while strengthening Eni's role as a leading operator in the country," said its chief executive, Claudio Descalzi.

Meloni met Libya's Prime Minister Abdulhamid al-Dbeibah, head of the internationally recognised Government of National Unity (GNU) in Tripoli for talks that also focused on migration across the Mediterranean.