Libya Signs Energy Cooperation Deal with Saudi Firm, Eyes Zuwara Refinery Partnership
The Libya Africa Investment Portfolio signed a memorandum of understanding with Saudi Arabia’s Ajyal Petroleum and Energy Company on January 26, exploring cooperation in oil, energy, and infrastructure sectors, with discussions centering on potential participation in the Zuwara Oil Refinery project.
The signing took place at LAIP’s Tripoli headquarters during a meeting between LAIP Chairman Mustafa Abu Fanas, General Manager Mohammed Al-Miladi, and members of the executive management. Representing Ajyal Petroleum were Chairman of the Board Musleh Al-Dossari and CEO Adel Al-Aidan.
During the meeting, LAIP presented an overview of its activities, areas of operation, key subsidiaries, and most important current projects, particularly within Libya, as part of its efforts to enhance domestic investments. The two sides discussed prospects for future cooperation and ways to strengthen joint investment, including exploring Ajyal’s possible participation in the Zuwara Oil Refinery project, in addition to discussing opportunities for establishing joint energy production projects within Libya.
LAIP stated that the agreement aims to build effective strategic partnerships that support the national economy and open avenues for the exchange of expertise between the two parties.
Source: libyaherald.com
