The General Assembly meeting of Sirte Oil & Gas Production and Processing Company for the year 2019 was held at NOC headquarters in Tripoli, headed by NOC Chairman.
The company’s activities for the year 2019 were reviewed, and the performance of the fields, oil reserves, expected production rates of free an associated oil for the coming years, refining and manufacturing activity as well as targets and programs for the year 2020 were discussed.
The attendees also reviewed the proposed estimated operational budget for the next year and the various projects that the company intends to undertake to increase the production capacity of the Libyan fields. The report of the monitoring body and the comments and the response received were heard.
NOC Chairman and members of the Board of Directors praised the exceptional efforts made by the company’s employees for continuation of operations and advancement of the oil and gas sector, especially after the company’s success in increasing production rates of crude oil and gas compared to last year, by drilling development wells and completing maintenance work for wells and equipment during 2019 and stressed the need to accelerate implementation of the program to convert produced wells from gas lift to pumps to raise production and the need to pay attention to environmental programs and infrastructure in Marsa Brega, and to give priority to the youth component and inclusion in all the work carried out by the company.
Chairman of Sirte Company’s Management Committee stated the accomplishments achieved in this year, the most important of which was the increase in the company’s oil and gas production and the restarting of the methanol plant through the efforts of the national elements, in addition to implementing projects to keep pace with the technology in the field of communications, thanking NOC’s board of directors for material and moral support which contributed to these accomplishments.
