Petrochemical complex to be built in Libyan Benghazi
Azerbaijan, Baku, Nov. 28 / Trend A.Tagiyeva /
A petrochemical complex will be built in Libyan Benghazi, Libyan Oil and Gas Minister Abdelbari al-Arusi announced, the country's state oil company (National oil Company) website reported on Wednesday
According to al-Arusi, the complex will include an oil refinery and production plant. Construction of the complex is estimated at $40 billion and in this regard the minister urged foreign companies to invest in this project.
Earlier, the Libyan State Oil Company reported that in September the country's oil production increased by two per cent compared to the previous month, reaching 1.6 million barrels per day.
During the reporting period, natural gas production increased by 0.5 per cent to 2.3 billion cubic meters per day. In September condensate production was 57.700 barrels per day.
Libya is the eighth largest producer of oil among the 12 states which are members of the Organisation of Petroleum Exporting Countries (OPEC) and the third in Africa after Nigeria and Angola. The main importer of Libyan oil is Italy, followed by Germany, France and Spain.
Libya's proven oil reserves amount to 47 billion barrels