The General Assembly meeting AGOCO and National Oil Corporation (NOC) was held in Marsa El-Breg morning December 22, 2020 at the main meetings room at Sirte Oil Company.
The General Assembly meeting was chaired by Eng. Mustafa Sanalla, Chairman of the General Assembly, in presence of Messrs. Members of the Board of Directors at the National Oil Corporation Abulgasem Shengher, Jadalla Alwokly, and Elamari Mohamed Elamari in addition to Mr. Fadlalla Issa Chairman of the Management Committee of the Company, Mr. Ashraf Alabar Member of the Management Committee for Financial Affairs and Human Resources, Mr. Faraj Almashay Member of the Management Committee for Operations, Maintenance and Refineries, Mr. Abu Baker Ben Amer Member of the Management Committee for Exploration and Production and Mr. Abdelmotaleb Adam Member of the Management Committee for Engineering, Constructions and Information Technology as well as Chairman and Members of Control Authority, general managers and managers of departments and specialists from both sides.
In his opening speech, Eng. Mustafa Sanalla asserted the challenges and problems that face the oil sector, the most important of which is the reduction in the budget which led to increasing the sector’s obligations and the difficulties faced NOC and its subsidiaries to achieve their targets and prevented from implementing the ambitious plans to increase production and maintain the continuity of operating and production processes. Nevertheless, NOC despite all that still able to performs duties and neutrality.
Eng. Mustafa Sanalla congratulated the employees of the Company for the accomplishments achieved by the Company during 2020 represented by connecting the new field (Sinawin oil field) NC-100 with an initial rate of 3000 bbl increasing gradually to 10,000 bbl, which was within the Company’s ambitious plan, under very difficult financial and security circumstances. The field is located in the far west of Libya and run by the Arabian Gulf Oil Company located at Benghazi in the eastern part of the country, which proves that Libya is one unit and the main reason for that is the unity of the oil sector.
He also asserted the Company’s implementation of developing drilling operations and well work over which reached advanced stages of completion as the target production was reached by implementing only 56% of the targeted wells. The main reason behind not completed the planned program was due to the blockades of oil production and the Coronavirus pandemic.
In this regard, Eng. Mustafa Sanalla stated that: ‘The Arabian Gulf Oil Company has contributed to the fast return of production in a record time despite of all the previously mentioned circumstances, the spread of Coronavirus pandemic and the absence of the specialized service companies, in addition to the severe shortage in providing the necessary catering and the basic resources for operating.
Despite all that, the Company managed to complete drilling % 63 out of 19 wells within the developing drilling plan and about % 65 out of 100 wells intended to be worked over and repaired.’
Eng. Sanalla reaffirmed the adopting of Zero gas flaring policy, and moving towards the clean energy to generate electricity in the Company’s operating areas as well as the importance of finalizing the strategic projects in the Contract Area 91 the most important of which are managing the produced water project, power generation project, maintenance of gas compressors and work closely with the partner to gain experience and now how.
He also demanded the Company to improve its services for the employees in the Company’s entire operations areas, bring in some young and new blood in the companies management, priorities should be given to environmental protection programs as well as updating and developing the process of safety and security programs.
For his part, Mr. Fadlalla Issa welcomed the attendees by saying: ‘We thank the Management Committee of Sirte Oil Company and all its employees for their hospitality and warm reception and reflecting the sector’s unity through hosting the companies to perform these meetings.
He added, once again we extend our congratulations for achieving high production rates under these difficult circumstances to all AGICO employees whose working day and night to achieve this success.
During his speech, Mr. Fadlalla Issa presented a number of activities that were implemented in 2020 despite of the lack of budget.
During the meeting there were also a presentation of the Company’s activity for the year 2020, its programs for 2021, presenting the proposed budgets to achieve the target, presenting the Company’s various departments activities, presenting the statistics that explain the volume of achieved works, future plans, presenting proposed projects and the ongoing projects which are intended to be completed during 2020. The presentation also included the estimated budget, summary of expenditures and operating budget, capital budget, projects, activities of manpower and training, the Company’s plan to develop and increase production levels in case of obtaining the necessary budget required for operating, maintenance and implementing the suspended projects. The report of the Control Authority was listened to as well and there was a reply to some notes mentioned in the report.
At the end of the meeting, Messrs. Chairman and Members of the Board of Directors at the National Oil Corporation made a number of notes and instructions asserting the necessity of taking care of the projects of reservoir development and engineering and technical studies and implementing them on a timely manner along with their asserting on the implementation of programs of environment protection, occupational safety and continues development of the manpower.