Tuesday, June 3, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

Libya & Algeria Renew Oil Sector Collaboration

December 11, 2023
Share on FacebookShare on Twitter

In a strategic move bolstering North African energy collaboration, Libya’s National Oil Corporation (NOC) hosted a pivotal meeting with Algeria’s Sonatrach, at its headquarters in Tripoli.

This first meeting since the lifting of Sonatrach’s force majeure signifies a renewed commitment to energy cooperation between the two nations.

The discussions focused on reviewing the achievements in exploration projects for 2023, and outlining plans and budgets for 2024. These talks included detailed considerations of seismic surveying, exploratory drilling, and comprehensive geological and geophysical studies.

This collaboration follows Sonatrach’s recent decision on 7 November, to lift its force majeure, leading to four new gas discoveries within the Ghadames Basin’s contractual area.

The engagement between Libya’s NOC and Algeria’s Sonatrach marks a significant step in revitalizing energy partnerships in North Africa. The NOC, central to Libya’s economy, has been navigating through the challenges posed by internal conflicts. Sonatrach’s decision to resume operations in Libya, and its success in gas exploration bring a wave of optimism for the Libyan oil sector.

This meeting is not just a procedural engagement but a symbol of the growing stability in Libya, and its potential for attracting foreign investment in the energy sector. For Sonatrach, this expansion into Libya represents an important diversification of its activities, and a strengthening of Algeria’s role in the regional energy industry.

The renewed partnership is expected to drive forward the energy agenda in both Libya and Algeria, potentially influencing the energy dynamics across the Mediterranean region. This collaboration could be a cornerstone for regional energy security and economic advancement, highlighting the strategic importance of North African energy resources on the global stage.

Tags: algerialibyaoilOil Sector
Next Post

Libyan Army Detains Libyan Militia Member

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Tripoli Government Assigns “Ali Al-Abed” as Acting Oil Minister

IOM: 300 Migrants Returned to Libya in a Week

HRW: Libya’s Detention Centres Rife with Abuse

Libya’s National Security Adviser Participates in Moscow Security Forum

French Report: €1.8 Billion in Gold Smuggled Through Libya

Greece Eyes Libya Cooperation to Block Boats from Eastern Coast

EDITOR PICKS

Libyan Parliament Approves Budget for Reconstruction Fund

Libyan Central Bank: Foreign Trade Rises by 35% Over 4 Years

Greece Eyes Libya Cooperation to Block Boats from Eastern Coast

French Report: €1.8 Billion in Gold Smuggled Through Libya

Tunisia Reiterates Support for a Libyan-Led Political Settlement

IOM: 300 Migrants Returned to Libya in a Week

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR