AGOCO Boosted Oil Output to 290,000b/d

AGOCO Boosted Oil Output to 290,000b/d

In steady steps for boosting output, Libya‘s Arabian Gulf Oil Company (AGOCO) has increased production to 290,000b/d of oil and hopes to reach 350,000b/d by the end of the year, reported Africa TVC News.

AGOCO, a subsidiary of the National Oil Corporation (NOC) that operates mainly in eastern Libya, has boosted its output from about 150,000b/d since military commander Khalifa Haftar took control of some of the country’s main oil terminals from a rival force during September, according to Reuters.

AGOCO’s Chairman, Mohamed Shatwan, said that the company’s production should reach 300,000b/d by early October, barring any technical problems, adding a further 50,000b/d by the end of 2016. He concluded that the company aims to push production to reach 400,000b/d in the long term.

Egypt Oil&Gas reported earlier that AGOCO had raised its output to 210,000b/d after production resumed at the Nafoura and Hamada fields. This came as Libya boosted crude production by more than 70% since August with some of the country’s oil fields resuming output and export terminals in the OPEC country reopening for their first overseas loading in two years.

Login

Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password

Register