South Korea’s LG Petrochemical Company recently won a $279 million contract to develop the Zawya Oil Refinery in the Azzawiya region of Libya. The contract commissions LG to renovate its naphtha and diesel treatment systems as well as its control operations, reported Xinhua. The Korean firm has set its target date of completion for 2005.
The Zawya refinery is a topping and reforming refinery with a nominal distillation capacity of 6,000 tons per annum or 120,000 barrels per day. The refinery is owned by the Libyan Government and operated by the Azzawiya Refining Company, a subsidiary of the National Oil Corporation.
LG recently completed projects worth $800 million in the Middle East, $700 million of which were carried out in Qatar and one billion dollars worth were directed to Kuwait. — (menareport.com)
© 2002 Mena Report (www.menareport.com )