The National Oil Corporation of Libya (NOC) and the Dow Chemical Company (DOW) are to participate in a joint venture to operate and expand a petrochemical complex in Libya which was built in the 1980s.
Through the joint venture, Dow will help upgrade and modernise existing assets at the Ras Lanuf petrochemical complex on the Mediterranean coast.
The joint venture agreement involves the Ras Lanuf site’s existing naphtha cracker, two polyethylene production facilities and associated infrastructure.
The project will include refurbishment and expansion of the existing units, followed by construction of an ethane cracker and additional polyethylene and polypropylene facilities. Later phases will include construction of additional hydrocarbon, plastics and chemical production facilities based on natural gas.
Presently, NOC produces about 1.7 million bls/day of crude oil and about 2.7 TSCFD of raw gas. NOC operates five petroleum refineries with a total refining capacity of 380,000 lbs/day of methanol, ammonia, and urea, as well as petrochemical facilities at Ras Lanuf based on naphtha cracking producing about 330 kt/year of ethylene, 170 kt/year of propylene, 130 kt/year of mixed C4’s and 325 kt/year of pyrolysis gasoline.