The general manager of the Algerian company, “Sonatrach”, “Tawfik Hakkar” said on Monday that the company is preparing to resume its activities and is working with its partners in Libya; To create conditions for return and secure safety of workers and equipment, adding that visits will be organized before the end of February; To negotiate the return of “Sonatrach” to Libya.
In statements to the Algerian News Agency, Hakkar said that they have made important investments in the field of oil and gas exploration, and they will not leave these explorations without development.
In a related context, “Hakkar” revealed that there are gas tankers belonging to the “Sonatrach” company that sailed to Morocco recently and transported small quantities of “propane” and “butane” gas within the framework of previous contracts with Morocco, pointing out that these contracts expired at the end of 2021, and they were not renewed in compliance with the sovereign decisions of Algeria taken in this field.
Hakkar added that Sonatrach intends to invest about 40 billion dollars in the period between 2022 and 2026, noting that the investment plan of the complex includes about 40 billion dollars, including 8 billion dollars in 2022.
Hakkar indicated that the largest share of these investments will be directed to exploration and production. To maintain national productive capacities, considering that these investments will also be directed to financing refining projects; In response to the national demand in this field.
Hakkar said that the company aspires to complete at least four projects in the field of petrochemicals, in addition to the fact that the Sonatrach complex also allocated $500 million in its forward-looking plan as investments to protect the environment.
It is worth noting that the Algerian government announced, on June 19, that it was making contacts with the Libyan government regarding the return of the state oil company in Algeria, “Sonatrach” to activity in Libya, if the conditions were suitable for that, in implementation of an agreement signed between the two sides at the beginning of 2018.
