PetroMasila Denies Secretly Forming Private Firms for Investments
PetroMasila National Exploration & Production Company has denied circulating rumors about secretly establishing independent private companies or offices to manage its investment operations outside its governmental scope.
This came during a press conference where the company's Director of the Business Support Unit, Engineer Mohammed bin Nabhan, confirmed that all external facilitation offices are subject to operational interests, similar to other international oil companies, to ensure the continued production of oil and operation of vital facilities in Hadramout.
He explained that the halt in oil exports has significantly impacted the company's production capacity, stressing that gas-rich wells have been discovered. However, economic conditions and the lack of an operational budget due to the export halt have prevented the completion of gas extraction and its utilization.
المصدر: Almahriah Net
