Libya state oil firm and Algerian Sonatrach discuss resumption of work in Libya

Libya state oil firm and Algerian Sonatrach discuss resumption of work in Libya

June 07, 2017 - 19:13
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Written by: AbdulkaderAssad

The Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanallah met in Algeria the CEO of the Algerian oil firm, Sonatrach, Abdelmomen Weld Qadour, reported east-based Libyan News Agency.

The two oil officials discussed the return of the Algerian company (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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