Sebha—As part of its continuing eight-day marathon meetings of the Board of Directors of the National Oil Corporation (NOC) with its General Assembly, a meeting was held in Sebha on Thursday with the Libyan oil companies of Akakus Oil Operations and Zallaf Oil and Gas Exploration along with the Sebha Institute for Petroleum Technology.
NOC is implementing a government’s policy aiming at developing southern Libya by means of moving oil operations and oil companies’ headquarters near oil fields that are spread wide over Sahara Desert of Libya.
The meeting, headed by NOC’s Chairman Mr. Masoud Suleiman, reviewed the finished projects that were planned for the year 2024 and the targeted plans for the year 2025, in addition to the needed budget for this year.
Speaking at the meeting, Mr. Suleiman said this gathering in Sebha is a part of implementing the government’s policy aiming to transfer the headquarters of some oil companies to the cities of the south. He praised the efforts of the Akakus Company’s Management Committee and its employees for their success in achieving higher than expected production rates by the end of 2024, which amounted to 303 thousand barrels per day, according to NOC’s web site.
The implementation by Akakus Company of its plans to develop oil reservoirs in the Sharara field, development drilling programs and oil wells maintenance works to achieve an increase in production was also held high by the Chairman. He recommended that focus should be directed at well connection projects in order to put them into production.
NOC’s series of the annual general assembly meetings started in Benghazi on 2 February 2025, moved to the city of Brega city and to Tripoli, the headquarters of NOC. All meetings were attended by companies’ CEOs, heads of departments, members of management committees and relevant officials.
Zallaf’s CEO said during the meeting that negotiations were ongoing with the contractor who will install processing units of the southern refinery project. indicating that the company has begun implementing projects to increase production capacity in its fields, which are expected to reach 17 thousand barrels per day by the end of this year.
Suleiman reminded the participants that the Southern Refinery Project is one of NOC’s strategic projects, especially in terms of its impact on the economic and social life in the Libyan southern region in general, stressing the Corporation’s full support for establishing this project.
