Operational and financial priorities to support stable production
Libya – National Oil Corporation Board Chairman Masoud Suleiman held an expanded meeting with chairs of the management committees of producing oil companies, members of the management committees for financial affairs, and financial-department directors at those companies, attended by Board member Hussein Safar, directors of the relevant NOC departments, and a number of officials from service companies operating in the oil sector.
Production-increase plans and tackling bottlenecks
Participants discussed a set of priority operational and financial files and followed up on the needs required to ensure continuity and development of operations. The meeting reviewed plans to raise production and discussed the main technical and operational challenges facing oilfields and sites, with emphasis on quickly addressing existing bottlenecks to avoid disruption to operations.
2026 budget and allocating funds by priority
The meeting also covered the 2026 budget and the need to direct financial allocations according to companies’ actual priorities and needs, in a way that meets the requirements of raising production rates and developing the sector.
Masoud Suleiman stressed the need to replace produced reserves by strengthening exploration activity and to focus on developing the refining and petrochemicals industry.
Service-company debts and continuity of operations
The meeting reviewed accumulated debts and financial obligations and the dues of service companies, and put in place practical mechanisms to pay and settle them in a way that ensures continued service delivery and avoids disrupting operations across oilfields and ports.
Occupational safety and workers’ living conditions
Suleiman stressed that occupational safety to protect workers and facilities is among the top priorities and equals in importance plans to raise production, directing that readiness be raised and vital safety equipment provided, foremost ambulances, firefighting vehicles and the equipment needed for immediate response to emergencies.
He also stressed the importance of improving living and service conditions for workers at oilfields and ports by upgrading accommodation, catering, provisioning and basic services, to provide a suitable and safe working environment in recognition of efforts to keep oil flows going.
Field follow-up on problems and priorities
The meeting concluded with directives from the Board Chairman for field follow-up on these files, setting priorities according to each site’s requirements, and working to settle outstanding problems so that approved budgets and measures taken are reflected on the ground in the form of stable production and more efficient operations.
