AGOCO Boosts Output as Libya’s Crude Production Recovers

AGOCO Boosts Output as Libya’s Crude Production Recovers

Libya’s Arabian Gulf Oil Company (AGOCO), a subsidiary of the country’s National Oil Corporation (NOC), has raised its output to 210,000b/d after production resumed at the Nafoura and Hamada fields, reported Reuters. AGOCO spokesman, Omran al-Zwai, said 80,000 barrels of crude had so far been pumped from the Nafoura field to Zueitina port, one of three terminals seized earlier this month by forces loyal to eastern Libyan commander Khalifa Haftar.

This comes 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 loadings in two years, reported Bloomberg. Head of oil measurement department at state-run NOC, Ibrahim Al-Awami, said that the north African nation’s crude output rose to 450,000b/d after work resumed at some oil fields. However, armed conflicts and political disputes continue to hobble the country’s production, which slid to 260,000 barrels in August.

AGOCO operates the Hariga terminal in eastern Libya as well as several fields including Sarir, Libya’s largest. The company was able to boost its output after the removal of force majeure on exports from Zueitina terminal.


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