Russian oil firm Tatneft resumes activities in Libya

Tentnef resumes activities in Libya. [Photo: NOC]
The National Oil Corporation of Libya has announced that Russia’s Tatneft has returned to its exploration project in the North African country, in the Northwest.

“We are very pleased with Tatneft’s resumption of its activities at Ghadames Basin. This enhances confidence in Libya’s oil and gas sector and serves the Libyan economy,” NOC’s chairman Mustafa Sanalla said in a statement as quoted by Reuters.

Tatneft stopped its exploration activities in the Hamada area back in 2014 amid the Libyan civil war. Now, it is returning along with other oil companies that had pulled out of Libya during the height of the war.

Tatneft has contracted Arab Geophysical Exploration Services Company (AGESCO) to conduct seismic acquisition for block 4/82 at Ghadames Basin, in order to complete the seismic survey program for a 200 km2 area which was suspended in 2014.

NOC Chairman Eng. Mustafa Sanalla said: “We are very pleased with Tatneft’s resumption of its activities at Ghadames Basin. This enhances confidence in the oil and gas sector and serves the Libyan economy’s interests.”

Several Egyptian companies had also returned to Libya to help Libya’s NOC to boost oil production by resuming previously suspended projects and expanding the country’s pipeline network, both for oil and gas.

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