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Agoco contributes to more than half of Libya's oil output

Eastern Libya's Agoco producing 220,000 bpd of crude

BENGHAZI, August 19, 2015

State oil firm the Arabian Gulf Oil Co (Agoco), which runs Libya's biggest oilfield, Sarir, and the eastern Hariga port, is producing 220,000 barrels a day (bpd), a company spokesman said.
 
That is stable from previous weeks but down by up to 50,000 bpd from June as the Majid, Nafoura and Bayda oilfields are closed due to protests or power outages.
 
Agoco contributes to more than half of Libya's oil output, which a top official put at between 350,000 and 380,000 bpd.
 
The eastern oil ports of Zueitina, Es Sider and Ras Lanuf remain closed due to insecurity or protests, other oil officials said.
 
One tanker was expected to lift 60,000 barrels of crude from the eastern Brega port this week, said one oil official. A fertiliser firm, a joint venture with state firm NOC, located in the port and the non-oil section of the harbour were also working normally, he added
 
Production and ports have suffered major disruption due to conflict between the internationally-recognised government in the east and a rival administration that took control of the capital Tripoli in August 2014.
 
The Es Sider and Ras Lanuf terminals, the country's biggest, closed in December when fighting between rival factions allied to Libya's two governments erupted. Attacks by Islamic State militants have made it impossible to reopen fields connected to the two ports.
 
The western El Sharara and El Feel oilfields remain closed due to protests despite efforts by tribal leaders to reopen them, a member of the protesters said.
 
The two fields, which used to produce around 400,000 barrels a day, have been closed for months due to pipeline blockades and a strike by oil security guards. --Reuters
 



Tags: libya | production | oilfield | Agoco |

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