A memorandum of understanding (MoU) was signed on Monday in Algiers between the National Company of Petroleum Works (ENTP), a subsidiary of Sonatrach, and the National Oil Wells Drilling & Workover Company (NWD), a subsidiary of the Libyan company National Oil Company (NOC), aimed at the provision by the Algerian party of drilling and workover rigs, as well as maintenance and training services, Sonatrach said in a statement.
The document was initialed by the CEOs of ENTP and NWD, in the presence of Sonatrach CEO Rachid Hachichi and NOC Chairman Farhat Omar Bin Qaddara, the same source said.
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This memorandum of understanding was signed on the sidelines of a meeting organized as part of the visit of an NOC delegation to Algeria, from July 29 to 31, at the invitation of the general management of Sonatrach.
Held at the headquarters of the group’s general management, this meeting follows another meeting held by videoconference between the Sonatrach and NOC teams for the establishment of a steering committee and technical subcommittees dedicated to each theme.
This second meeting organized in Algiers allowed the two parties “to establish a schedule of actions to be undertaken concerning the different themes identified in the memorandum of understanding signed between the two parties in February 2022 and its amendment signed in January 2024”.
Thus, the technical committee set up by the two parties will examine the possibility of collaboration between the subsidiaries of Sonatrach and NOC in the field of drilling, geophysics, well intervention, stimulation, and construction, the press release underlines.
As a reminder, the CEO of Sonatrach and the president of the NOC signed on January 14 an amendment to the memorandum of understanding concluded between the two parties in February 2022.
“This amendment enriched the partnership areas agreed between the two companies by integrating new areas of cooperation, particularly in the exploration and development of oil and gas resources, renewable energy projects, oil services (geophysics, drilling, stimulation, construction), and finally, training, exchange of experience and transfer of knowledge,” explains the document.
It should be noted that during its visit to Algeria, the NOC Libya delegation will visit the research laboratory of the Algerian Petroleum Institute (IAP).
