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By Sami Zaptia.
London, 28 October 2019:
Libya’s state National Oil Corporation (NOC) reported that Algeria’s Sonatrach will take the necessary measures to accelerate the resumption of its activities in Libya. The revelation came during a meeting in Algiers between NOC chairman Mustafa Sanalla and Sonatrach chairman Rachid Hachichi on Thursday.
The NOC reported that the meeting was part of the joint cooperation between it and Sonatrach where Sanalla briefed the Algerian side on the NOC’s plans to increase oil and gas production in Libya, and where he invited the Algerian side to contribute to the implementation of the plans.
The meeting also discussed potential joint cooperation that could help Sonatrach resume its activities in Libya and strengthen joint relations in the oil sector. The NOC expressed its gratitude for Sonatrach’s seismic surveying and exploratory drilling achievements. In addition, the NOC delegation urged Sonatrach to complete the development plan for block 65 and its commitments to blocks 95/96 in the Ghadames Basin.
NOC said it will cooperate through the optimal use of surface equipment and lines with available capacity, in order to reduce costs and to improve economic feasibility for both parties in accordance with the laws and regulations in force.
Hachichi stressed the importance of joint cooperation and confirmed that Sonatrach looks forward to strengthening joint cooperation and expanding its work in Libya. The two parties agreed to form a joint working group to study common points of interest and opportunities in the field of oil and gas.
