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Oil Budget Follow-up Committee discusses development spending for the NOC budget.

Pulbished on:

Tripoli, March 29, 2023 (Lana) The Oil Budget Follow-up Committee held its second meeting for this year, which was devoted to discussing the development spending of the National Oil Corporation’s budget (N0C) and following up on its indicators, as well as the corporation’s operational and development plan aimed at raising production to 2 million barrels, with the aim of reviewing the plan and referring it to the High Council of Energy for discussion and approval.

NOC Chairman Bin Qadara gave a visual presentation, explaining the development plan for 2023, which aims to increase oil and gas production, and enhance cooperation with international companies in the area of exploration, after the government's decision to lift force majeure.

The meeting stressed the need to issue a quarterly report for disclosure and transparency of all expenditures in this sector and announce the executive steps for operational and exploratory projects.

=Lana=