Libya’s NOC, Algeria’s Sonatrach Cooperate to Boost Production

Libya’s NOC, Algeria’s Sonatrach Cooperate to Boost Production

Libya’s National Oil Corporation (NOC)’s Chairman, Mustafa Sanalla, met with Sonatrach’s Chairman and CEO, Rachid Hachichi, along with their respective delegations to discuss potential joint cooperation between the two state oil firms, NOC said in a statement published.

Sanalla showed NOC’s plans to increase oil and gas production in Libya and invited the Algerian side to contribute to the execution of those plans.

The two parties further discussed the potential joint cooperation to resume Sonatrach’s activities in Libya, as the NOC delegation expressed its gratitude for the company’s seismic surveying and exploratory drilling achievements, and urged Sonatrach to complete the development plan for block 65 and its commitments to blocks 95/96 in the Ghadames Basin.

On the other side, Hachichi stressed the importance of joint cooperation and confirmed that his firm 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 oil and gas field. Similarly, Sonatrach will take the necessary measures to accelerate the resumption of activities in Libya.



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