Algeria’s state oil and gas company has pulled out of Libya citing deteriorating security conditions, Libyan media report , adding the company had first evacuated its personnel from its neighbor and has now transported production equipment across the border. Sonatrach had partnered with the Libyan National Oil Corporation on drilling seven oil wells in its eastern neighbor. The Algerian company returned to Libya relatively soon after the 2011 civil war to explore for oil in the Ghadmes basin, in block 65, where Sonatrach held a 25-percent stake that was awarded to it back in 2005. Earlier this year, Sonatrach and NOC signed a deal for the joint exploration of two fields, one on the Algerian side and one on the Libyan side, which may turn out to be one single field. “If it was proved that the two fields are in fact one field, they will be run and […]