Libya’s state National Oil Corporation (NOC) announced last Thursday (24 July) that it had signed four memorandums of understanding (MoU) at Sonatrach’s headquarters in Algiers to enhance joint cooperation in the fields of operations, petroleum services, training and exchange of expertise.
MoU on geophysical exploration activity
The terms of the first memorandum of understanding signed between Sonatrach’s National Geophysical Company (ENAGEO) and the North African Geophysical Exploration Company (NAGECO) of the National Oil Corporation (NOC) focused on geophysical exploration activity.
MoU on provision of oil services in Algeria, Libya and abroad
The second was between Sonatrach’s National Well Services Company (ENSP) and Sonatrach’s Al-Jouf Petroleum Technology Company (JOT), related to the provision of oil services in Algeria, Libya and abroad.
MoU on research
The third was signed between Sonatrach / Exploration and Production – Laboratory Division, and the Petroleum Research Centre, and aims to carry out joint actions within the framework of partnership projects between Sonatrach and the National Oil Corporation.
MoU was on training and knowledge transfer
The fourth MoU was on training and knowledge transfer and was signed between Sonatrach and the National Oil Corporation (NOC). It aims to cooperate in the field of training and knowledge transfer in all disciplines related to the oil and gas sector in the two countries.
MoU’s support the continuation of strategic and in-depth partnership
The NOC stated that the conclusion of these MoUs with Algeria’s Sonatrach is a support for the continuation of the strategic and in-depth partnership between the two parties, and demonstrates the commitment of the National Oil Corporation to develop strategic, solid and sustainable partnerships with the Algerian Sonatrach Foundation.
