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NOC Chairman's meeting with the Vice Chief Executive Officer of Statoil Company.

Eng. Mustafa Sanalla, NOC Chairman, held a meeting on Tuesday 11 July 2017 with Mr. Al Cock Vice Chief Executive Officer of Statoil Company in the presence of Mr. Abulgasem Shingheer NOC Member of the Board of Directors and Ms. Hana Caroline Warshik Manager of Business Developments Department at Statoil Company.

 Mr. Al Cock was familiarized with the general oil situation in Libya, the improvement of security situation in the production areas and NOC plans to return production to its normal levels. The meeting also discussed the difficult financial situation that the oil sector suffers in its efforts to maintain the current production and the partners' contribution to funding the budgets with higher shares until the situation improves. The security situation in the western part of Sirte Basin was also discussed in addition to Mabruk Oil Operations Company's plans to resume production in the Field, which was seriously damaged after the treacherous attacks in 2015.

 Programs of spatial development in the Company's Contract Areas were also reviewed. Mr. Chairman requested Statoil Company to coordinate with its partners to come up with one vision in order to activate such programs, which NOC considers a priority and strategic partnership with the areas surrounding the production facilities. The attendees also discussed the Company's preparations for conducting workshops on reservoir engineering and enhanced oil recovery (EOR) at the Company research center in Norway next September, which will be attended by a number of engineers from NOC and its subsidiaries.

 Mr. Cock expressed his appreciation and full support for NOC plans and visions for the recovery of production and its sustainability in spite of the difficult circumstances.

It is worth mentioning that Statoil Company is one of the Coalition (Repsol- Total- OMV) in Al Sharara  Oil Fields and one of Total Coalition in Mabruk  Oil Field.


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