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Libya's Agoco sees pre-war oil output in April

Tripoli, March 22, 2012

Libya's Arabian Gulf Oil Company (Agoco) is producing around 331,000 barrels of oil per day (bpd) and hopes to reach full production in a few weeks, a spokesman said on Thursday.

"We hope that we will reach our normal production at the beginning of April," Agoco spokesman Abdeljalil Mayuf said by phone. "Everyday there is an improvement."     

The Benghazi-based company had previously said it expected to return to full output of 425,000 bpd by the end of February. However, electricity problems, mainly a delay in restoring full power at some oil fields, have meant this has been pushed back.

"I think power is now under control, so we hope to push production up to our normal rates," Mayuf said.

Agoco has said it is still operating within the framework of the National Oil Corporation despite moves in eastern Libya, where Agoco is based, for autonomy from Tripoli.

Earlier this month, civic leaders in the east declared they were setting up their own provincial council. "No there is nothing, no impact," Mayuf said. "It is business as usual." - Reuters




Tags: Oil | libya | Benghazi | Agoco |

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