The annual meeting of Zwetina Oil Company for the year 2019 was held at NOC headquarters in Tripoli, headed by NOC Chairman.
During the meeting, the activities of the various departments of the company during 2019, and the proposed work and budget programs for 2020 were reviewed and the objectives that the company seeks to achieve this year for increasing the rates of production of oil and gas reserves, as well as the observations of the Owners Committee and reports of the Supervisory Authority were discussed.
NOC Chairman praised the efforts of the company’s management committee and its employees, in maintaining the continuity of the company’s work, despite the challenges and difficulties faced, from sabotage and severe damage to surface production equipment in the contract area of M74, which led to stoppage of production completely, but continued to maintain production in its fields located in the area 103. He stressed the importance of increasing production in the company wells, to achieve the goals in raising production rates according to its strategic plans for the coming years as cooking oil is provided for most of the eastern region, as well as treatment of electrical bottlenecks, and get rid of flaring gas.
Chairman of Zwetina Oil Company appreciated the efforts made by NOC in preserving this vital sector, as it is the only economic source in the Libyan state, and expressed his gratitude for its permanent support to the management of the company and its employees. The most important achievements during the year 2019 which are represented in drilling and maintenance of a number of wells, maintenance of some of the surface facilities, and completion of some development plans were reviewed.
It is worth noting that Zweitina Oil Company has started implementing some reservoir studies and developmental drilling operations, and has also completed 40 maintenance operations for the wells in 2019, in addition to the gradual return of production in 103 d field.
NOC Chairman and members of the Board of Directors stressed the need for the company to pay great attention to environmental and occupational safety programs for its employees, to pay attention to young elements through their training and qualification by communicating with internationally accredited centers and institutes, and to involve them in the work implemented according to their specialties, to give them the opportunity to fully carry out their duties, and the necessity of improving the logistic services for all employees of the company’s various locations, and provide them with comfort and entertainment.
