Algerian Oil Firm Sonatrach denies pulling out of Libya

Alwasat - Cairo Tue 27 Nov 2018, 09:16 PM
alwasat radio

An official for Algerian oil company Sonatrach denied on Tuesday that it had withdrawn from Libya.

"Sonatrach pulled out an oil rig from Libya, but it did not leave the country," the Andalou news agency quoted the source as saying on condition of anonymity.

The source pointed out that "the dredge that was withdrawn had not been used since 2012 because of the force majeure, threats and security conditions in the country," pointing out that the company preferred "the dredge be moved to Algeria and used in oil fields near the Libyan border instead of remaining idle."

Recently, Algerian media reported that Sonatrach withdrew from Libya and abandoned its activities because of the security situation, but the company said after the denial that the process of withdrawing the dredge from Libya was "very normal, internationally recognized and agreed upon with the Libyan authorities."

Sonatrach and Libya's National Oil Corporation signed a Memorandum of Understanding (MoU) earlier this year to manage two crude oil fields on both countries' borders.

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