After Nigeria, Libya wants Indian oil firms to upgrade its refineries and is also considering the option of offering Indian firms rights to explore oil in their country.According to sources, Tripoli wants India’s state-run oil firms to upgrade four of its refineries including 220,000 barrel per day (bpd) Ras Lanuf and 8,400 bpd Brega refineries. The offer came when an Indian delegation led by M. S. Srinivasan, additional secretary in Petroleum Ministry visited Libya earlier this month for talks on cooperation in hydrocarbon sector. The others in the team included B.S. Negi, director (projects), GAIL, N.K. Nayyar, director (business development) IOC and B.S. Mathur, direct (refinery) of HPCL.Libya offered Indian firms equity in Ras Lanuf refinery besides inviting them to participate in bidding for rights to explore 6-8 fields in the oil rich country. The next round of bidding for the oil fields is expected shortly, sources said. Tripoli also wants India to help build a new 20,000 bpd refinery in Sebha, which would process crude from the nearby Murzuq field, and a 200,000 bpd export refinery in Misurata.While Indian oil corp will look at the proposal for revamping the refineries which had been hit hard by the UN sanctions that banned the country from importing refinery equipment, OVL will be looking at the oil blocks on offer. India would push for some blocks on nomination basis, sources said.India is also interested in the redevelopment and expansion of Marsa El Brega LNG facility as well as in gas distribution projects. GAIL would be a lead partner if Libya gives gas projects, sources said.
