NOC Meeting with Akakus Oil Operations

Mustafa Sanalla, NOC Chairman of the Board of Directors, chaired an expanded  meeting with Akakus Oil Operations Company to discuss several important issues.

Sanalla started by thanking and appreciating the company's management and all its workers for the great efforts they exert for the return of production  in large levels.

Then the meeting shed light on NOC's difficult financial position which reflected on all  the companies as a result of the delay in allocating the capital budget and cutting down  the operating budget in addition to the drop in the value of the Libyan Dinar and its negative impacts on the implementation of the budget.

The the security situation in the Company's operations areas of Al Sharara Field and Zawia Tank Farm was also discussed in addition to armed bandits   attacks  and their consequences on the supplies of spare parts, fuels, catering and other equipment that the Company needs to maintain the current  production figures  from the Company's operations areas which is now  213,000 barrels/day and the Company's targets to raise this number from  the Contract Area 186 in the next weeks.

It is worth mentioning that Libya' oil production today is 703,000 barrels a day. The problems that face the employees of the Company particularly health insurance resulted from the restrictions imposed by the Audit Bureau  were also discussed.

Sanalla said:

"NOC will not spare any effort in improving the positions of oil and gas sector employees  and following up their concerns. Solving the workers problems in all companies is the top priority of NOC because oil sector employees are the unknown soldiers who work for all Libyans and with their efforts life continues in our torn and wounded country."

(Source: NOC)

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