The National Oil Corporation (NOC) of Libya has entered into a new Memorandum of Understanding (MoU) with Algeria's Sonatrach Company, marking a significant step in strengthening bilateral energy sector cooperation. This agreement encompasses the provision of drilling and well intervention equipment, alongside maintenance and training services.

The MoU was signed by the CEO of the National Petroleum Works Corporation (ENTP) and the head of the NOC's specialized drilling and well maintenance branch. The signing took place during an official visit to Algeria, following an invitation from Sonatrach's General Directorate.

During the discussions, the parties focused on developing a comprehensive work plan in line with the protocol agreed upon in February 2022 and its annex signed in January 2024. A technical committee has been established to explore potential cooperation areas, including drilling, geophysics, well intervention, stimulation, and construction.

Sonatrach emphasized that the annex reinforces the partnership by incorporating new cooperation areas. These areas include the exploration and development of oil and gas resources, renewable energy projects, oil services, and training programs designed for expertise exchange and knowledge transfer. The first meeting, conducted remotely, brought together teams from both organizations to form a supervisory committee and technical sub-committees dedicated to each cooperation area.

This MoU represents a crucial advancement in Libya and Algeria's efforts to enhance their energy sectors, fostering greater collaboration and capability development in various energy-related fields.

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