Tuesday, March 31, 2020

East Libyan Oil Firm AGOCO Says Production Rises

Posted by October 3, 2016

Libya's Arabian Gulf Oil Company (AGOCO) said on Monday that its production had risen to 320,000 barrels per day (bpd), from 290,000 bpd late last week.

The increase had come after production at Sarir field rose to around 200,000 bpd, and production at Nafoura had reached 29,000 bpd, spokesman Omran al-Zwai said. He added that AGOCO could reach its year-end target of 350,000 bpd if the Bayda field came back on line.

AGOCO, a subsidiary of the National Oil Corporation (NOC) that operates mainly in eastern Libya, has roughly doubled production since forces loyal to eastern commander Khalifa Haftar seized blockaded oil terminals last month and the NOC announced it would reopen them for exports.

(Reporting by Ayman al-Warfalli; Writing by Aidan Lewis)

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