The General Assembly of Arab Gulf Oil Company for the year 2019 was held at NOC headquarters in Tripoli headed by NOC Chairman.
During the meeting, the company’s activity and its various departments were reviewed. The proposed work programs, the budget for 2020 and the annual activity of the contracting area No. 91 and the various projects that the company intends to undertake during the next year as well as the proposed budgets of the company to achieve its goals, the work accomplished in 2019, future plans, proposed projects and ongoing projects were also reviewed.
The attendees discussed the item of expenditures, the estimated, operational and capital budget, the budget necessary for operation and maintenance, implementing projects related to reserve development, engineering and technical studies and discontinued projects. The report of the monitoring body was also heard with the response to the observations.
NOC Chairman praised the exceptional efforts made by the employees of Arab Gulf Oil Company to increase the company’s performance and contribute to the advancement of the national economy, despite all the difficult conditions and challenges faced. He congratulated the company’s management committee on the 48th anniversary and expressed appreciation to the company’s management by honoring retired employees during the past years on the occasion of the nationalization of Arab Gulf Oil Company. He also stressed the necessity of solving the problems of electricity and developing appropriate solutions quickly.
Chairman of Arab Gulf Oil Company praised the great support provided by NOC to the company and its departments to overcome the various bottlenecks, which reflected positively on the performance of the company and its ability to increase production despite the scarcity of financial resources and lack of capabilities. A brief summary of the most important achievements during 2019, such as increasing the production capacity of Masala, Nafoura and Sarir fields.
In conclusion, NOC Chairman appreciated the great efforts of Arab Gulf Oil Company in connecting the wells with production, which contributed to increasing the production capacity, in addition to the great efforts in completing maintenance work for the equipment, such as maintenance of power generation stations, gas lift compressors, repairing lines transporting oil in all locations, completion of Sarir power station and overhauling Sarir field. He also praised the company’s attention to the contracting area No. 91 and development plans and urged the intensification of efforts to complete the projects for exploiting gas in Masala field and development of Sinawan, Sultan and Nafoura fields.
He also praised the professionalism enjoyed by the employees of Arab Gulf Oil Company from the national cadres, as it is one of the major companies in the sector. He also instructed the Chairman and members of the company’s management committee on the necessity of preserving environment, safety and development programs as eell as providing amenities and entertainment for the company’s employees.
