The Oil Budget Follow-up Committee discussed, in its second meeting of the current year, the National Oil Corporation's (NOC) operational and development plan, which aims to raise production to two million barrels per day, with the aim of reviewing the plan and referring it to the High Council of Energy for discussion and approval.
Hokoometna platform indicated that the meeting saw discussions on the development spending of the NOC's budget.
The head of the committee, Mohammed Al-Zaidani, confirmed that the government was working through the committee and the relevant ministries to support the NOC's programs, with the aim of stabilizing and increasing production.
The Chairman of the NOC, Farhat Bengdara, gave a presentation and explained the features of the development plan for 2023, which would aim to increase oil and gas production, and enhance cooperation with international companies in the field of exploration.
The meeting reiterated the necessity of issuing a quarter-year's report for disclosure and transparency of all expenditures in the oil sector, as well as for announcing the executive steps for operational and exploratory projects.