Algeria-Libya: MoU Signed Between ENTP, NWD for Enhanced Oil and Gas Collaboration

✏️ BY: Dr. Hana Saada

Algiers, Algeria | July 31st, 2024 — On Monday, a Memorandum of Understanding (MoU) was signed in Algiers between the National Petroleum Works Company (ENTP), a subsidiary of Sonatrach, and the National Oil Wells Drilling & Workover Company (NWD), a subsidiary of the Libyan National Oil Company (NOC). The agreement aims to enhance collaboration in the oil and gas sector through the provision of drilling and workover equipment, as well as maintenance and training services, according to a statement from Sonatrach.

The MoU was signed by the CEOs of ENTP and NWD in the presence of Sonatrach’s CEO, Rachid Hachichi, and NOC President, Farhat Omar Bin Qaddara. This agreement was formalized during a meeting held as part of a visit by a NOC delegation to Algeria from July 29 to 31, invited by Sonatrach’s general management.

The meeting, which took place at Sonatrach’s headquarters, followed a previous virtual meeting between Sonatrach and NOC teams aimed at establishing a steering committee and technical sub-committees for each thematic area of the agreement.

This latest gathering in Algiers allowed both parties to develop an action plan concerning the various themes outlined in the MoU signed in February 2022 and its addendum signed in January 2024. The technical committee formed by the two organizations will explore the potential for collaboration in areas such as drilling, geophysics, well intervention, stimulation, and construction.

It is worth noting that the MoU signed on January 14 of this year expanded the partnership framework initially set in February 2022. The addendum incorporated new areas of cooperation, including exploration and development of oil and gas resources, renewable energy projects, and petroleum services such as geophysics, drilling, stimulation, and construction. Additionally, it emphasized training, knowledge exchange, and experience transfer.

During their visit to Algeria, the NOC delegation is also scheduled to tour the research laboratory at the Algerian Petroleum Institute (IAP).

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