BY: Hana Saada
ALGIERS- Sonatrach, the national company, has embarked on the final phase before resuming its operations in Libya, as announced on October 30. The company had withdrawn from Libya in 2011 due to the country’s security unrest.
In a press release issued on Tuesday, the Sonatrach group revealed that a “high-level” delegation, led by CEO Rachid Hachichi, traveled to Tripoli for a scheduled meeting with the National Oil Company of Libya.
The press release emphasized that this visit marks the formalization of the process to resume Sonatrach’s activities in Libya after a prolonged hiatus. It will enable the company to fulfill its contractual obligations in the exploration field, specifically blocks “065” and “96/95” located in the Ghadamès basin.
During the meeting, both parties expressed their commitment to implementing all necessary measures to facilitate Sonatrach’s activities in Libya. They also pledged to maintain a strong partnership between the two companies.
The press release further stated that a group of high-level experts, comprising specialists from both Sonatrach and the National Oil Company of Libya, will collaborate on the technical aspects of the activity resumption. Working meetings have been scheduled for November 8, 2023.
Sonatrach reiterated in the press release that the decision to resume operations was prompted by the official notification received from the company regarding the lifting of the state of force majeure. This notification was in response to an invitation from the National Oil Corporation (Libya) to international oil and gas companies operating in the region.
By returning to Libya, Sonatrach aims to contribute to the country’s oil and gas sector while fostering a mutually beneficial partnership. The resumption of activities signifies a significant milestone in the company’s commitment to supporting Libya’s economic growth and stability.
