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Wednesday, January 17, 2018
Algeria and Libya’s state-run oil and gas firms, Sonatrach and NOC respectively, signed an agreement to jointly operatea number of crude oil fields located on the borders between the two countries.
The agreement included updating a study that was carried out over a decade ago on the AlRar and AlWafa oilfields, which are located on the shared borders between Algeria and Libya, according to a statement by Sonatrach. AlRar gas field is located on the Algerian side of the border, while AlWafa oilfield is located on the Libyan side of the border.
An official at Sonatrach, who preferred anonymity, told Anadolu Agency, that the study would “clarify the hypothesis of the connection between the Algerian Al-Rar gas field and the Libyan Al-Wafa oil field.”
“If it was proved that the two fields are in fact one field, they will be run and managed jointly by the two countries,” the source noted.
The previous study was conducted by DeGolyer & MacNaughton and was aimed at confirming the existence of a connection between the two fields. “Through the agreement, the two companies decided to update the old study using the technical data collected from January 2008 to present,” the source went on to tell the Anadolu Agency, adding that the companies are also seeking to achieve the optimal utilization for the two fields through the agreement.
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