Libya Oil Holding Company, Tripoli's oil investment arm in Africa, has won a $300 million deal in Democratic Republic of Congo to build oil infrastructure, its chief executive officer said on Tuesday. Ali al Shamekh also said Sudan assets were also part of the purchase from Royal Dutch Shell of its retail business in Ethiopia and Djibouti, announced in July.
The Congo contract, part of the company's expansion plan on Africa, involves setting up storage and control station facilities near the Banana area on the Atlantic Coast from where the 140 km (87.5 miles) pipeline would carry petroleum products onto DC Congo, he said. "The deal to buy Shell operations is consistent with Libya Oil Holding Company's global strategy to expand business in Africa," he said.