Tripoli, 23 May 2012:
Libya’s Arabian Gulf Oil Company (AGOCO) announced yesterday that its oil production has reached those of the pre . . .[restrict]Revolution levels.
Ahmed Migibri, the head of AGOCO, reported that production had reached 397,000 barrels of crude oil per day as of Tuesday 22 May.
Furthermore, he added that his figure was reached in a record time contrary to the expectations of international experts who forecast that it would take two years from Libya’s Liberation for AGOCO to return to pre revolution production levels.
Libya is currently producing over 1.6 million barrels of oil per day and AGOCO is producing about a quarter of this total. [/restrict]