Sonatrach group signed Thursday in Tripoli a memorandum of understanding with the National Oil Corporation (NOC) under which it will resume its activities in Libya, suspended since 2011.
The signing comes during a visit by a large delegation from Sontrach to Libya.
Signed by the group’s CEO, Toufik Hakkar, and the chairman of Noc’s board of directors, Mustafa Sanalla, this memorandum of understanding aims mainly at the return of Sonatrach to activity in Libya, by fulfilling its contractual obligations in the contractual areas 65 and 96/95 in the Ghadames basin.
“Our objective is to quickly resume activity and start developing the discovered fields,” said Mr Hakkar at the signing ceremony.
“Through this agreement, we want to outline a future vision to prepare development plans for the fields discovered in the two areas in Ghadames,” he added.
The agreement will also strengthen cooperation in the fields of oil and gas project development, services and training.
During this visit to Tripoli, the CEO of Sonatrach is accompanied by the general managers of the subsidiary companies specialised in geophysics, drilling works, major oil works, wells services, pipeline transport, civil engineering and construction.
On this occasion, Mr. Hakkar presented to Noc officials an overview of the Sonatrach group and the capacities of its subsidiaries in the field of oil services, highlighting “their competence and proven know-how”.
For his part, after an overview of the oil activity in his country, Mr. Sanalla welcomed the decision of Sonatrach to resume activity in Libya as an “important” partner in the field of energy and assured of its firm willingness to assist Algerian subsidiaries in the oil services market in Libya.
Both parties agreed to prepare partnership programmes in various fields such as geophysics, geology, drilling, welding and inspection.
APS 11/02/2022
