Thursday, May 19, 2022

NOC Chair calls on Audit Bureau not to address oil companies on control over contracts

NOC Chair calls on Audit Bureau not to address oil companies on control over contracts

Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, directed a letter to the Acting Head of the Audit Bureau, asking him to immediately stop addressing oil companies regarding the issue of prior control over their contracts.

Sanalla considered that the matter is settled according to the text of the law and the opinion of the law administration, holding him fully responsible for the consequences of the bureau’s insistence on imposing prior control over the contracts of oil companies.

In his response to the Acting Head of the Audit Bureau, Sanalla said: “The positions of the Audit Bureau in this regard and in violation of the law of its establishment have seriously and painfully damaged the national economy, resulting in a real loss for the oil sector in particular, and the state’s income in general, whose main source is oil activity, and hindered oil and gas production and prevented its development, obstructing oil and gas production and preventing its development, maintaining sustainability and increasing production, especially with regard to gas projects.”