Board of Directors of Oil Exploration Company Holds its First Meeting of Its 7th Term and Discusses Future Work Plans

The Board of Directors of Oil Exploration Company (OEC) held its first meeting of its 7th term on March 26, 2025, during which several important topics were discussed to ensure the continuity of OEC operations and enhance its performance in the field of oil exploration.

The meeting began with a welcome to the elected and appointed members. The company's financial situation was discussed, including revenues and expenditures, and measures to maintain its budget and ensure the stability of exploration operations. The Board also reviewed reports on the activities of the seismic crews and the progress rates of their programs, as well as the environmental and topographical challenges facing these crews and ways to address them to ensure the effective implementation of the plans. The meeting also discussed several topics related to OEC operational plan, reviewing the means to achieve strategic objectives according to the specified timetables.

In a related context, the Board elected Mr. Abbas Mohammed Ali, Deputy Director General for Technical Affairs, as Vice Chairman of the Board of Directors. This step aims to strengthen OEC administrative structure and support its efforts to achieve its exploratory vision.

This session falls within the framework of the Board of Directors' commitment to continuous monitoring of work plans and emphasizing the importance of developing performance to ensure the achievement of set objectives in accordance with the highest professional standards.