The Libyan Oil Corporation reviews the activities of the Sirte Company during 2022, its goals and budget for 2023

The Libyan Oil Corporation reviews the activities of the Sirte Company during 2022, its goals and budget for 2023
The Libyan Oil Corporation reviews the activities of the Sirte Company during 2022, its goals and budget for 2023
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The Libyan Oil Corporation continued, for the second day in a row, in Benghazi, to hold general assembly meetings with its subsidiaries, and today, Monday, it held the general assembly meeting of the Sirte Company for the production and processing of oil and gas.

The meeting was held under the chairmanship of the Chairman of the Board of Directors of the National Oil Corporation and the President of the General Assembly, Farhat bin Qadara, in the presence of the members of the Board of Directors of the Corporation, the Chairman and members of the Management Committee of Sirte Company, the general managers and directors of departments in the Corporation and the company, and the Chairman and members of the Monitoring Authority.

During the meeting, the company’s activity for the year 2022 was reviewed, which includes the activities of the departments of health, safety, environment, exploration, legal affairs, oil and gas reserves, drilling and production operations, transportation and gas supplies, the activity of the industrial complex and its facilities, maintenance work, and the activity of engineering and projects.

The meeting also discussed the approved budget for the year 2022, aspects of spending, the company’s estimated budget for the year 2023, its targets for this year, and the problems and difficulties it faces.

The Board of Directors of the National Oil Corporation commended the company’s plans and programs to develop its fields with the aim of achieving increased production.

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The Sirte Company indicated through the presentation that, thanks to the support of the Corporation and the efforts of its employees, it seeks to increase the oil and gas reserves by developing the discovered undeveloped fields, as well as working hard to explore new fields and structures. The development of crude oil and gas reserves for the currently developed fields is one of the company’s priorities.

It is worth noting that it was recently approved to increase the proven reserves of the Al-Jabal field by 170 million barrels of crude oil, and work is underway to update the reserves of the Al-Lahaieb field, with an estimated increase of about 160 million barrels of oil.

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