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Thursday, February 17, 2022

Libya: NOC- Sonatrach MoUnote

Chairman of Libya’s National Oil Corporation (NOC) Mustafa Sanalla stated that the recent Memorandum of understanding (MoU) signed between NOC and Algeria's state oil company Sonatrach to resume operations in Libya is a significant step in the recovery of the Libyan hydrocarbon sector.

The contract allows Sonatrach to resume work on discovered fields and renew the exploration of promising finds on the Libyan side of the Algerian border.

This comes as Libya and Algeria are looking to increase gas supply to Europe in light of the prevailing situation on the Ukraine-Russia border.

Tactical Report has prepared a 240-word report to shed more light on Libya-Algeria cooperation in this regard. 


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