General Assembly Meeting of AGOCO and Jowfe Oil Technology Company

The General Assembly annual meeting of the Arab Gulf Company (AGOCO) was held on 27th December 2015, at NOC headquarters. The meeting was attended by the NOC Chairman of Board Mr. Mustafa Sanalla, NOC Board of Directors: Mr. Abulqasem Shengeer, Mr. Alamary M. Alamary and Mr. Jadalla Alaawkaly. The meeting was also attended through the closed circuit by the AGOCO Chairman and Members of the Board of Directors. Managers and Directors from NOC also attended the meeting, as well as the Observers’ Committee.

 

NOC Chairman Mr. Sanalla, pointed out that after its headquarters was severely damaged due to the instable security situation in Benghazi,  AGOCO proved through its employees that it is capable of bearing responsibility and it can perform its duties according to the required standards. He thanked all the workers of the company for their dedication and persistency in order to keep the continuity of work.

Chairman of AGOCO, Mr. Muhammad Ben Shetwan, indicated that AGOCO has worked in very difficult situations due to the security instability which affected the work performance of the Company. For example the explosion at the Sarir – Hareghah pipeline, as well as the reluctance of service companies. He pointed out that many work achievements were performed by the gathered efforts and persistency of the workers who insisted on maintaining the good quality and satisfactory levels of performance.

A presentation was given on the HSE Department, during which explanations covered some accidents which took place at the Company’s oil fields. The future work plans for HSE were also presented. The exploration activities were presented including the performed tests and the drilling programs.  The Production Department activities followed, during which the current reservoir studies, the proposed development drilling programs were summarized. A summary of the activities of the Production Engineering Department was also presented, including plans of wells and fields maintenance programs.

The presentation also covered the activities of the Department of Operations, Maintenance and Refineries; a summary of the activities of the   Projects Department including the completed projects and the ongoing projects; the proposed budget; the activities of the IT Department; the activities of the Team of Developing the Discovered Fields; the proposed budget, the estimated budget, the actual expenditures budget, the approved operational budget and the proposed operational budget, and the development program and projects of 2016.

The meeting was concluded by a number of comments and recommendations. The Chairman and Board members of NOC instructed the Company to reduce expenses as much as possible and focus the spending on areas which guarantee the work and production continuity, taking into account priorities relating to HSE, increasing the production levels and the necessary maintenance of equipment and facilities.

The Chairman and Board of Directors thanked all the workers and employees of AGOCO for their efforts and hard work despite the surrounding critical circumstances.

 

General Assembly Meeting of Jowfe  Oil Technology Company

The General Assembly Meeting of  Jowfe  Oil Technology Company was concluded and attended by the NOC Chairman of Board Mr. Mustafa Sanalla, NOC Board of Directors: Mr. Abulqasem Shengeer, Mr. Alamary M. Alamary and Mr. Jadalla Alaawkaly. The meeting was also attended through the closed circuit by the Jowfe Co. Chairman and Members of the Board of Directors. Managers and Directors from NOC also attended the meeting, and the observers committee.

The NOC Chairman pointed out that the critical security situation at Ganfouda area at the west of Benghazi,  in which the company’s headquarters is located, especially during last year, has affected the Jowfe company’s performance. He also indicated that the company’s plants and the main store were severely damaged due to the military conflicts at the same area. This led to a complete stoppage of most of the company’s operations. He thanked the management and workers of the company for their efforts made to maintain, as much as possible, the company’s assets, equipment and materials at the company’s oil fields.

The Chairman of Jowfe  Company, Mr. Muhammad Eissa Al-Abdaly thanked NOC for its support to all the national oil companies and assured that Jowfe Company will resume its activities when the area becomes safe and stable.

A presentation was given on the security situation at the company area, a summary of the company’s operations, a summary of the maintenance and upgrading of the equipment, an overview of the achieved incomes, the estimated budget, a summary of the expenditures and the operational budget, the capital budget, projects, activities of manpower and training, the targeted goals of the company for 2016.

The Chairman and Board of NOC instructed the Company to limit expenses as much as possible and set a work plan and studies which guarantee a speedy resumption of the company’s activities when the security situation improves.  The Board also instructed that the current equipment should be utilized to create incomes. They further assured that NOC will provide the company with the necessary support