April 16, 2010 / 5:50 PM / 9 years ago

Libya seeks foreign investors to up Zawia refinery

TRIPOLI (Reuters) - Libya is looking for foreign partners to help it upgrade the Zawia oil refinery, the country’s second largest plant with a capacity of 120,000 barrels per day, its top oil official said on Friday.

“The successful partner will take a 50 percent share in the Zawia refinery to modernise the plant and increase its output capacity,” Shokri Ghanem, the head of the state energy firm National Oil Corporation, told Reuters.

“The partnership is offered for foreign investors this year,” he added but he gave no more details.

OPEC member Libya is home to Africa’s largest proven oil reserves. Major oil companies have operations in the country including British BP, Italy’s ENI and Spain’s Repsol.

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