Libya’s NOC and Algeria’s Sonatrach discuss budgets

National Oil Corporation (NOC) and Sonatrach, the state-run firms of Libya and Algeria, respectively, met to discuss joint activities and balance sheets for 2018 for Blocks 65 and 95/96 in the Ghadames basin. The budget for 2019 covering the two blocks was also part of the discussion.

The parties also discussed a report evaluating the reservoir capacity for Block 95/96, and the release of drilling rig TP215, following completion of the drilling of well 02-96 1A.

The committee also discussed the evaluation and development of Block 65 through its association with Arabian Gulf Oil Company’s (AGOCO) Hamada fields.

Source: Petroleum Africa

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