Economy

Libyan National Oil Corporation invites Sonatrach to contribute to the reconstruction of oil fields and ports

The Libyan National Oil Corporation called on Sonatrach group to contribute to the reconstruction and maintenance of oil fields, ports and drilling programs in Libya, according to a statement issued by the company.

The call came in a meeting held on Tuesday here in Algiers and brought together the CEO of Sonatrach group, Toufik Hakkar and a delegation from the Libyan National Oil Corporation headed by the Chairman of the Board of Directors Mustafa Abdullah Sanallah.

A presentation was made, during this meeting, by the service companies of Sonatrach group, especially in the field of construction, drilling and project implementation.

After praising the ability of the Algerian companies, Mr. Sanallah called for twinning programs to be conducted with their counterparts from the service companies affiliated with the National Oil Corporation, such as the Libyan National Company for drilling and maintaining wells.

Hence, it was agreed to set-up joint committees and to sign memoranda of understanding in this regard, according to a statement by the Libyan National Oil Corporation.

This meeting also focused on discussing the possibility for Sonatrach to resume its activities in Libya, by completing its contractual obligations in the contracting areas 065 and 96/95 (Ghadames Basin) “especially after the encouraging improvement of the security situation and stability.”

The two sides also discussed in detail, during their meeting, the results of “good” exploratory drilling for these areas and “finalizing the development plans to put them in production,” the same source adds.

The vocational training programs and preparation of technical frameworks for welding and inspection were also discussed, according to the statement, which affirmed the two parties’ determination to implement these programs” as soon as possible. “

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