The Chairman of the Board of Directors of the National Oil Corporation, Farhat bin Gdara, discussed today, Monday, during the meeting of the General Assembly of the Sirte Oil Company with the Chairman of the General Assembly, the approved budget for the year 2022 and aspects of expenditure, the estimated budget of the company, its targets and the difficulties it faces for the year 2023.

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, and the activity of the industrial complex. The company also indicated during the presentation that it is working seriously to explore new fields and structures with the support of the National Oil Corporation.

Bin Gdara stressed the development of the fields of the Sirte Oil Production Company and the programs prepared with the aim of achieving increased production.

According to what was stated by the media office of the National Oil Company, it was recently approved to increase the proven reserves of the mountain field by 170 million barrels of crude oil, and work is underway to modernize the reserves of the flame field, with an increase estimated at about 160 million barrels of oil.