Egypt lining up to expand oil projects in Libya: minister

Egypt is keen to boost number of petroleum projects in Libya, in cooperation with the Libyan National Oil Company (NOC), said Minister of Petroleum Tarek el-Molla on Wednesday.

Molla made his remarks during a meeting with NOC chairman Mostafa Sanallah, in attendance of a delegation of Libyan oil firms, to review cooperation between the two countries.

“Egyptian petroleum companies had the ability and experience to hold successful oil and gas projects in Libya,” Molla further stated, adding that he also considered training Libyan workers in Egyptian training centres.

They also discussed developing joint projects for storage, trading and distribution of petroleum products.

Egypt and Libya have always been cooperating in the oil sector. In 2013, and in cooperation with Libyan oil company, OilLibya, development works at the “Tube” depot in Badr city started.

The depot contains 10 storage containers for diesel, Naphtha and gasoline as well as an 86km petrol pipeline to transport petroleum products to Upper Egypt’s governorates.

Spreading over 120,000 square meters, total investments of the new depot amount to $33 million and it has a storage capacity of 26,000 tons. The project is said to be now 95 percent complete. Source: Egypt today