Libya and Algeria Extend Production Agreement

Friday, January 19, 2024

Libya National Oil Corporation (NOC) and Algeria’s state firm Sonatrach have signed an extension to their Exploration Production Sharing Agreement (EPSA) for Area 95/96 and Area 65, in Libya’s Ghadames Basin.

The extension is intended to compensate for the periods of force majeures in the working areas that NOC and other operators have experienced.

The Libyan government (GNU) issued a statement indicating the goal of the extensions is to allow Sonatrach to get back to work as soon as possible within the contractual areas that have been subject to force majeure during periods of 2023.

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