TRIPOLI — Bahrain-based Islamic bank Gulf Finance House (GFH) has won a contract to build a multi-billion dollar city in Libya offering support services for oil firms, the state news agency JANA said on Monday. The 3.8 billion dollar Energy City will feature residential and business facilities over 1,300 acres in the Sabratha district, 50 miles west of the Libyan capital. The city aims to provide oil and gas companies operating in the area with “the adequate infrastructure to develop their activities” including housing, office blocks, hotels, shopping malls and cultural centers, the agency said. The scheme will be led by GFH in conjunction with the Libyan economic and social development fund. A Memorandum of Understanding (MOU) was signed by Mr. Hamad Al Hadhari, President of the Libyan Social Development Fund, and Mr Esam Janahi, Chairman of Gulf Finance House at a high profile ceremony. The Energy City concept is expected to reinforce and consolidate Libya’s energy industry by providing complete business infrastructure to both local as well as foreign oil and gas producers, downstream refiners and producers and businesses involved in shipping, energy trading and support services. OPEC member Libya is the African continent’s second largest oil producer at 1.7 million barrels per day (bpd). It has estimated reserves of 42 billion barrels and aims to reach a production level of three million bpd in 2010.