Tag Archives | Infrastructure

NOC to open US Office to support $20bn Spending Prog

By John Lee. National Oil Corporation (NOC) Chairman Mustafa Sanalla has announced the NOC will open an office in Houston, Texas, as it embarks on an ambitious $20 billion spending program to restore production capacity over the next three years. “The Houston office puts America’s world-class equipment manufacturers and oil field service providers at the […]

Italian Firm set to Double Infrastructure Contract

Libya Herald reports that an $31-million contract to improve and upgrade infrastructure and utilities in the eastern town of Cyrene is being extended by the local authority, with its value set to more than double. Italian firm Ravanelli said the specifics of the contract were still under discussion but that it anticipated the project having […]

GE could make $10bn revenue from Libya

General Electric, the biggest maker of power-generation equipment, expects to generate as much as US$10bn in revenue from Libya, as the country vies to rebuild its economy, infrastructure, and institutions, and respond to the demands of its population, the company’s regional President and CEO Nabil Habayeb said in an interview with Arabian Business. “The needs […]

Libya on Recovery Path but Faces Long Rebuilding Effort

  Libya faces urgent, costly task of rebuilding its economy Improved institutions, management of resources to help unleash potential IMF remains committed to helping Libya through capacity building Libyan oil production has recovered faster than expected following the overthrow of Muammar Gaddafi, but the country faces the challenges of building modern institutions, repairing infrastructure, and […]

Libya asks for help to restructure oil facilities

Libya’s Economy Minister Ahmed al-Koshli said yesterday that his country wants to benefit from the technology Turkey possesses, speaking in the “Energy, Economy and Sustainable Development” session of the Eurasian Economic Summit. “The know-how and experience Turkey has is very important for us. We want Turkey to share its experiences with Libya,” he said, adding […]

Libya geopolitical risks challenge STX

STX Group, Korea’s shipping and shipbuilding conglomerate, is seeking to win Libya’s huge energy infrastructure projects, which company officials said could be worth up to $10 billion. STX Group officials said STX Heavy Industries signed a memorandum of understanding on building energy, steel desalination and other facilities in Libya’s northern region of Tobruk early last […]