NOC Chairman Meets Oil Executives to Review Production Plans, Financial and Operational Challenges
Today, Monday, September 28, 2026, Eng. Masoud Suleman, Chairman of the Board of Directors of the National Oil Corporation (NOC), chaired an expanded meeting attended by the chairmen of the management committees of producing oil companies, members responsible for financial affairs, and the companies’ finance directors.
The meeting was also attended by NOC Board Member Mr. Hussein Safar, relevant NOC department directors, and officials from oil sector service companies.
The session focused on key operational and financial priorities, and on the measures required to ensure the continuity and development of operations.
The meeting included a review of plans to increase production, along with a discussion of the main technical and operational challenges facing oil fields and sites. Particular emphasis was placed on the urgent need to resolve existing bottlenecks to prevent any disruption to operations. Discussions also covered the 2026 budget, and the importance of allocating funds according to each company’s real priorities and needs in a way that supports higher production rates and overall sector development.
The Chairman highlighted the need to replenish depleted reserves by accelerating exploration activities, and by strengthening efforts to develop the refining and petrochemical industries. The meeting also addressed accumulated debts, financial obligations, and outstanding payments to service companies, focusing on practical mechanisms for settling dues while ensuring that services continue without interruption across various oil fields and terminals.
In this context, Eng. Suleman reiterated that occupational safety, protecting both personnel and facilities, remains a top priority, equal in importance to production-boosting plans. He directed that operational readiness be strengthened and that essential safety equipment be made available, particularly ambulances, fire trucks, and the necessary equipment for immediate emergency response.
He also emphasized the need to improve living conditions and services for workers at oil fields and ports. This includes upgrading accommodation, catering, supplies, and essential amenities to ensure a suitable and safe working environment that reflects the important efforts made to keep oil production and operations running smoothly.
The meeting concluded with directives from the Chairman of the Board to follow up on these matters in the field, prioritize actions according to each site’s specific needs, and address remaining outstanding issues. The aim is to ensure that approved budgets and implemented measures deliver real results on the ground, including stable production and more efficient operations.