According to a written statement from Sonatrach, Libya Petroleum Corporation President Mustafa Sanalla and Sonatrach General Manager Toufik Hakkar met in Tripoli, the capital of Libya.
After the meeting, a memorandum of understanding was signed between the two institutions allowing Sonatrach to resume its activities in Libya.
In the statement, it was expressed that the aim of the agreement is “to continue the activities of the Algerian company in Libya, to fulfill its contractual obligations, to start developing the discovered areas, to develop cooperation ways in the fields of services and education, as well as oil and natural gas projects”.
Emphasizing the importance of “joint efforts to facilitate the rapid return of Sonatrach to its activities in Libya,” the statement said that the two countries should complete their obligations in the areas of the Ghadames Basin (the border of Algeria) and set a vision for the preparation of plans to develop the areas discovered here.
Hakkar, General Manager of Sonatrach, stated that his company is ready to establish sub-companies and develop programs with the Libyan side in exploration, drilling, rehabilitation, and maintenance of facilities, education, civil engineering.
President of the Libyan Petroleum Corporation Sanalla pointed out that Sonatrach is an important partner in the field of energy and expressed his satisfaction with his decision to return to his activities in Libya.
Sonatrach suspended its operations in Libya for the first time in 2011. Restarting its operations in Libya in 2012, the company stopped its operations in 2015 due to the worsening security situation in the country.