Libya, Portugal to Increase Oil and Gas Sector Co-Operation
July 22, 2008
Libya and Portugal have signed two new agreements to increase co-operation in the oil and gas industry and for the expansion of bilateral trade, according to the Libyan state news agency Jana.
The accords include a framework agreement to promote collaboration in oil and gas exploration, drilling, distribution, refining and other downstream activities.
The news agency said that the two countries have also signed a memorandum of understanding that sets out the terms for investment by the Libyan Investment Corporation (LIC) in tourism, real estate and petrochemical sectors in Portugal and other places.