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The Algerian oil company ''Sonatrach'' announces its official return to Libya

Pulbished on:

Tripoli, November 07, 2023 (LANA) - The CEO of the Algerian Sonatrach company, Rachid Hachichi, officially announced, on Tuesday, the company’s return to resume its work in Libya after an eight-year hiatus.

This came after a meeting between the President of Sonatrach and his accompanying delegation with the Chairman of the Board of Directors of the National Oil Corporation, Farhat Omar Bin Gudara, in the capital, Tripoli.

  Sonatrach and the National Oil Corporation are scheduled to negotiate the projects scheduled to be launched soon and reconsider the conditions for exploiting border wells on both sides.

The consultations relate to delineating the process of resuming Sonatrach’s contractual obligations in the field of exploration in the Ghadames Basin in southwestern Libya, and ways to upgrade the bilateral partnership.

The Algerian company left its investments estimated at tens of millions of dollars as a result of the deteriorating security situation in 2011, then returned to activity in 2012, before stopping again in 2015.

=Lana=