Tripoli: The National Oil Corporation (NOC) convened an extensive meeting at its Tripoli headquarters with the Administrative Control Authority to address the challenges impacting production operations. The discussion aimed to identify solutions to the pressing issues hindering the NOC and its subsidiaries, with a specific focus on increasing production.
According to Libyan News Agency, key figures in attendance included NOC Chairman Masoud Suleiman, Administrative Control Authority Chairman Abdullah Qaderbouh, and several directors from both organizations. One primary concern highlighted was the absence of an operating budget for the past year, which has created significant hurdles for the corporation. Additionally, the mounting debts owed to national and international service companies were identified as critical issues that need urgent resolution.
NOC Chairman Masoud Suleiman emphasized the dual challenges of operating without a budget and the increasing debt burden. He noted that these factors have made it difficult to maintain production levels and continue operations effectively.
Abdullah Qaderbouh, head of the Administrative Control Authority, stressed the importance of supporting the National Oil Corporation in overcoming these challenges. He reiterated that any critique of the NOC must be evidence-based and acknowledged the corporation's vital role. He highlighted the importance of understanding the challenges at hand and exploring effective solutions, while also commending the sector's adherence to legal regulations and the expertise within its departments.