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NOC concludes technical and financial meeting with Arabian Gulf Oil Company.

Pulbished on:

Benghazi 4 August 2026 (Lana) National Oil Corporation (NOC) concluded its 2026 technical and financial meeting with the Arabian Gulf Oil Company yesterday, following two days of discussions held at the company's headquarters in Benghazi, focused on reviewing operational and financial performance and examining the company's production growth plan for 2026–2027, with the participation of technical department directors and specialists from both sides.

The meeting highlighted the continuation of technical presentations by the company's departments, covering operational activities, production status, maintenance programs, and ongoing projects, in addition to review digital transformation initiatives of the Information Technology Department, and discussed key operational challenges and reviewed expenditure indicators and budgets for 2024, 2025, and the first half of 2026.

Participants also discussed a package of new projects included in the 2026 plan, aimed at developing production facilities in the company's fields, to enhance operational efficiency, improve performance, raise safety standards, and ensure sustainable production.

The meeting also included a technical presentation by the foreign partner on its future development, drilling, and production plans for the Nafoura field in Contract Area (CA91).

During technical presentations, the concerned departments stressed the need to ensure adequate funding of delayed projects, maintenance, and modernization of production facilities and infrastructure, noting that significant parts of these facilities need to be rehabilitated to ensure continuity of operations and to improve the reliability of assets.

At the conclusion of the meeting, participants emphasized the importance of expediting priority projects and providing the company with the necessary financial and institutional support, which would help maintain current production levels, achieve future production targets, enhance the efficiency of oil assets, and support the NOC's strategy to increase production and ensure operational sustainability.

=Lana=