National Oil Corporation - Libya

The government-owned National Oil Corporation-Libya (NOC) is a holding company that invests in the domestic oil sector. Through its subsidiaries and joint venture affiliates, the company carries out exploration, drilling, production, refining and storage of oil and gas; as well as the manufacture and distribution of petrochemicals; oilfield services and training programs for the petroleum industry.

Through its affiliate, the Libyan Emirates Refinery Company (LERCO), NOC signed an EPC contract to upgrade the Ras Lanuf refinery, valued at LYD2.38 billion (USD2 billion). When completed in 2013 the refinery would produce 220,000 barrels of refined petroleum products per day.

NOC signed an EPC contract through its subsidiary, the ENI Oil Company to develop the Bouri offshore oil and gas field for LYD1.2 billion (USD974 million). The project is expected to be completed in 2013.

The company’s joint venture with the US-based Dow Chemical CompanyDow Chemical Company resulted in an EPC contract to expand the Ras Lanuf petrochemical complex, valued at LYD5.95 billion (USD4.8 billion), and expected to be completed in 2014.

NOC signed a contract with the Libyan Investment AuthorityLibyan Investment Authority and the Norway-based Yara InternationalYara International to revamp the fertilizer plant at Marsa Al Brega, valued at LYD1.78 billion (USD1.5 billion). The project is expected to be completed in the 3rd quarter of 2014.