Based on the frozen assets of Occidental International in 1986 and in compliance with the regulations of the General People's Committee Decision No. 351/1986, dated on Ramadan 24/1395 (June I, 1986), Zueitina Oil Company was incorporated as a Libyan owned Company with a mandate to carry out the whole range of oil operations at the provided areas in accordance with the concession contracts which are subjected to the Joint and Sharing Agreements made between the National Oil Corporation (NOC), Occidental International, American, and OMV Libya Ltd. of Austeria.

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