NOC & SOO Annual Meeting

On Wednesday, January 17, 2024, the annual meeting was held at National Oil Corporation, chaired by the Chairman and members of NOC Board. The meeting was attended by a delegation from SOO, headed by OMC Chairman and members, as well as a number of department managers. During this meeting, SOO presented its activities during 2023, where the company showcased its achievement of production rates that reached 93% of the target, as well as its success in restarting the GUP and conducting workover for a number of shut in wells. The company’s outstanding achievement in maintaining work safety for 1500 days without any lost time accidents was also highlighted, followed by a presentation of the most important challenges facing the company, such as the approval of budgets and lengthy procedures that hinder work progress and delay the achievement of our targets and the implementation of our development programs. NOC chairman praised SOO efforts, as it is the first company to achieve this distinguished record in the field of HSEQ. He also confirmed that all obstacles will be studied by NOC to develop quick and practical solutions that will support SOO in particular, and the oil sector companies in general. At the end of the meeting, OMC chairman expressed his gratitude to NOC for its continuous support for SOO, emphasizing the importance of enhancing joint cooperation in order to achieve the growing development of the company and help it achieve its proposed projects to maintain and increase production rates.