Enhancing Cooperation between Oil Exploration Company and Federal Board of Supreme Audit to Approve Financial Statements

As part of the efforts of the senior management of Oil Exploration Company (OEC) aimed at enhancing transparency and compliance with regulatory and financial standards, OEC Director General, Dr. Osama Raouf Hussein, visited the Federal Board of Supreme Audit on Monday, 10 February 2025, where he held an important meeting with the Deputy President of the Bureau, Dr. Abdul Karim Faris Al-Saadi, the Director General of Industrial Activity Audit Directorate, Dr. Alaa Hussein Mohammed, and the Assistant Director General of the directorate, along with the Head of Financial Supervisory Authority operating in the Ministry of Oil, Dr. Abdul Rahman Ahmed Ghazal, and in the presence of OEC Financial Department Manager, Mr. Hasanein Saad Khalaf.

The meeting witnessed intensive discussions with the aim of enhancing cooperation and coordination between OEC and the Federal Board of Supreme Audit, and overcoming the necessary procedures for approving OEC financial statements and final accounts. The importance of achieving integration between stakeholders to ensure accuracy and transparency in the preparation of financial accounts was emphasized. The visit resulted in positive results in raising the level of coordination and joint cooperation, which contributes to facilitating the procedures for approving the financial statements and enhancing the confidence of audit authorities in OEC financial performance.