Based on the importance of the periodic follow-up of the National Oil Corporation for operating and service companies in the course of their various activities in the oil field, the meeting hall of the National Oil Corporation in the new building (Al-Sarir hall) was held on Monday 10/19/2020 Technical meeting between the National Oil Corporation and the Acacus Operations Company In order to discuss the company’s activities, production rates of associated oil and gas, the approved budget and actual expenditures in 2020.
The meeting was attended by Mr. / Director of the Reserve Development Department, Mr. / Director of Maintenance and Projects Department in charge, Mr. / Director of Production Department, Mr. / Director of Health, Safety and Environment Department and Mr. Director of the Inspection Department, in addition to a number of specialists from technical departments Representatives from Libya Technology Company for Engineering Works, Al-Jouf Petroleum Technology Company, the Libyan Oil Institute, and the National Company for Drilling and Maintenance of Oil Wells attended via closed circles.
On the side of Acacus, the heads and members of the Management Committee, the General Manager of Repsol Libya Branch, and a number of managers of technical and financial departments and specialists in the company attended, and through the closed circuit the representatives of the second party (partners) attended.
The first axis of the meeting focused on presenting the company’s activities in the field of health, safety and environment and the precautionary measures it has taken to prevent the Corona pandemic (Covid 19) in the oil fields and affiliated sites, taking into account the safety standards that the Corporation considers among its priorities.
This was followed by a review of the general reserves and stocks of oil and gas for each field, in addition to the expected production rates of oil and gas associated with the next ten years, development drilling activities, reservoir and laboratory studies, and maintenance and repair of wells.
The summary of the approved operational budget for the year 2020 AD, the actual expenditures in 2019-2020, the proposal for the year 2021 AD in its two parts (chapters one and two) and the exceptional budget for the year 2019-2020, as well as the details of the existing obligations of the company paid from the obligations.
In addition to reviewing the results of the intensive operations to improve the productivity of the current wells, which contributed to raising the production rate, especially in the A / MN 115 field.
As for operations, maintenance and projects, maintenance projects and completion rates were reviewed.
They also discussed the difficulties and security problems in the El Sharara field that prevent the company from achieving its goals in light of the exceptional circumstances the country is going through.
