Oil & Gas

The Ministry of Oil and Gas said that the National Oil Corporation (NOC) has 26 programs and 82 strategic initiatives in its plan to increase production and the efficiency of workers, reduce gas flaring, benefit from renewable energies, and develop fields and infrastructure for the sector, as these programs and strategies are to be implemented in a specified time frame.

The remarks came in a consultative meeting between the Ministry of Oil and Gas, and experts in the Office of Strategic Projects at NOC, accompanied by a group of consultants affiliated with the consulting office: Kearney Company.

"Kearney's consultants gave a presentation of the NOC's strategic plan, then the discussion revolved around the standards that will be used in the strategic plan as well as the need for its compatibility with the laws in place. regulations and legislation governing the work in the oil and gas sector." The Ministry added in a statement on Tuesday. 

Ministry officials stressed the need to give top priority to investing in human resources, supporting the private sector, and developing fields to increase production capacity, competencies, and capabilities, as well as establishing refineries to cover the local market and export the surplus, while benefiting from previous studies in the oil field.

Meanwhile, the Director of the Strategic Office at the NOC confirmed that the observations submitted by the Ministry of Oil and Gas would be taken into account by the advisory team, as the two parties also indicated the importance of continuing bilateral meetings and communication at all administrative levels in the Ministry and the NOC for the progress and development of the oil sector.