National Oil Company praises the efforts of employees to increase production rates

by times news cr

The members of the Board of Directors of the National Oil Corporation highly appreciated the efforts of workers in the sector and the resulting increase in production rates that amounted to 1,417,382 barrels per day of crude oil during the year 2024 despite the scarcity of funding and the lack of budgets necessary for this, and in exceptional circumstances that witnessed the declaration of force majeure more than once stopping. As a result, production.

This came during a meeting that included the Board of Directors of the National Oil Corporation and the directors of the production and operations departments of the sector’s companies, on Wednesday, at the Corporation’s headquarters in Tripoli, attended by the Director of the Production Department and the International Marketing Department of the Corporation.

Acting Chairman of the Board of Directors, Engineer Masoud Suleiman, confirmed that all companies and departments related to the corporation and workers at all oil sites were on time, defying all the difficult circumstances in order to achieve the target, which was announced in the General Assembly meetings last year, expressing his hope to maintain the same The level of performance and giving, and moving forward to achieve more during this year 2025, reviewing another aspect of the corporation’s policy in preserving environmental and ocean projects in line with increasing production and preserving reservoirs.

He explained that the Corporation understands companies’ demands for the necessity of liquidating the budget to achieve the targets in 2025 and cover the debts and obligations based on them, stressing that promises from the government have been received by the Corporation stating that it will work to accelerate the liquidation of these budgets in the near future.

The meeting also discussed the most important challenges facing the plan to increase production for the year 2025, most notably the necessity of increasing the storage capacity for production and finding alternative plans to accommodate the flow of the product to storage places in the event of the impact of weather conditions and force majeure, in addition to looking at closed wells and trying to return them to production, and using digital transformation software.

Last updated: January 2, 2025 – 11:20


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