On the sidelines of the final day of the Gastech 2024 Conference and Exhibition held in Houston, USA, Khalifa Rajab Abdulsadiq, the Acting Minister of Oil and Gas under the Dbaiba government, held a meeting with Rachid Hachichi, the CEO of Algeria’s Sonatrach.
The meeting reaffirmed both parties’ commitment to strengthening their partnership in oil and gas exploration and development, renewable energy projects, oilfield services, and the exchange of training, expertise, and knowledge. The discussions underscored the importance of maintaining economic ties and strategic cooperation that benefit both nations.
Hachichi confirmed Sonatrach’s intention to resume its operations in Libya, fulfill its contractual obligations, and begin developing the discovered fields, according to a statement by Abdulsadiq.
Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations.
Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.
The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.
The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.
Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
