Libyan oil facility
From Taighde
Libyan oil facility is a planned construction project in Libya. The project will be developed by the Libya Investment Authority and Medco Energi International. The project is expected to cost around $800 million and will be split between the two companies. The project must be approved before construction begins. The project is expected to take 3 years and upon completion will be able to produce 50,000 barrels per day.
The LIA and Medco have teamed up on previous investments including creating a joint venture to explore for oil in Indonesia. Medco is also exploring several fields in Libya.
