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Italy’s engineering, drilling, and construction services provider Saipem has secured a new contract worth approximately $1 billion for the development of a gas project off the coast of Libya. The contract is with Mellitah Oil & Gas Libyan Branch, a consortium formed by National Oil Corporation of Libya and Eni North Africa.

The Renewable Energy Authority of Libya (REAOL) has agreed a partnership with the organizers of the Libya Energy & Economic Summit that will highlight Libya’s renewables opportunities and promote better understanding of the sector for international and local investors.