Libya state oil firm and Sonatrach discuss resumption of work in Libya
- 20 August 2017 / News / 360 / Emerging Africa
The Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanallah and the CEO of Sonatrach, Abdelmomen Weld Qadour, held a meeting in Algeria, reported east-based Libyan News Agency, The Libya Observer reported.
During the meeting, two oil officials discussed the return of Sonatrach to work in Libya and resumed projects that have been halted since 2014.
Sanallah and Qadour also talked about regaining cooperation in the developing the newly discovered oil fields and areas, reactivation of the agreement between the two companies regarding developing Al-Wafa and Al-Rar oilfields in Libya, which will be implemented by the American company, D&M.
“We also discussed cooperation in training and other fields between the Libyan Oil Institute and the Algerian Petroleum Institute.” Sanllah remarked.
“Like we did here in Algeria with Sontarch, we are aiming to discuss the return of all international companies to invest in Libya’s oil industry and pave a secure way for them to be encouraged to return to work in the country.” Sanallah explained.
Libya’s oil production has reached 808.000 bpd with aims and hopes by the NOC to increase it to over one million bpd by the end of 2014.
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