Algerian oil and gas giant Sonatrach said Thursday it had signed a deal with Libya’s National Oil Corporation to restart its operations in the war-torn nation. The Algerian group announced the deal during a visit to the neighbouring North African country by its chief Toufik Hakkar. “Sonatrach and the National Oil Corporation signed a memorandum of understanding in Tripoli today to strengthen their partnership in the oil and gas sector,” it said in a statement. Hakkar told journalists in Tripoli that Sonatrach had already invested $150 million in the country and planned to pump another $50 million. “There are oil and gas reserves and there is demand in Europe.

Source: Libya Today February 11, 2022 05:39 UTC