Libya’s state National Oil Corporation (NOC) announced yesterday that the Algerian state energy company Sonatrach is willing and ready to return and work fully in Libya, after it lifted the state of force majeure on its exploration areas in August this year. New Sonatrach CEO Hachichi Tripoli visitThe announcement came during the visit conducted Tuesday by Sonatrach CEO Rachid Hachichi, who, for his part, stressed the importance of maintaining economic relations and strategic cooperation in a way that preserves the interests of the two countries. This, he continued, in addition to resuming its activity in Libya, completing its contractual obligations, initiating the development of discovered fields, and enhancing ways of cooperation in the areas of implementing oil and gas projects, services and training. 2021 MoUA memorandum of understanding was previously signed during a meeting held in Tripoli between the former NOC Chairman, Mustafa Sanalla, and the former Sonatrach CEO, Tawfiq Hakar in 2021. Eni, BP and Sonatrach lift force majeure, resume contractual obligations in their oil and gas blocks (libyaherald.com)NOC’s Sanalla meets Algeria’s Sonatrach to discuss resumption of cooperation (libyaherald.com)Algeria’s Sonatrach withdraws staff from Libya (libyaherald.com)

Source: Libya Today November 08, 2023 13:01 UTC