Libya signed an agreement worth 2.5 billion dollars with two Emirates to modernize the refinery which is scheduled to start in September to the next three years.

The agreement was signed by the Libyan National Oil Corporation , Starr consortium composed of TWA Asia Global Star Petro Energy Units of the Al Ghurair Group of UAE.

This agreement aims to export refinery to the top of Lanouf by the production capacity hits 220 thousand barrels a day.

The project will be implemented in two phases, particularly the rehabilitation of the first refinery to improve its performance and improve its ability to market their products to keep up with the latest international standards.

The second phase includes the development and expansion of the refinery, adding manufacturing units with sophisticated techniques to increase production of distilled light of increasing global demand and reducing the heavy fuel oil to a minimum.