The Chairman of the National Oil Corporation (NOC), Farhat Bengdara, called on the Arabian Gulf Oil Company (AGOCO) to increase production rates in its affiliated fields, stressing the continuous support from the NOC for all its affiliated oil companies to achieve the goal of increasing total oil production. This came during the meeting held by Bengdara Sunday with the Chairman and members of the Board of Directors of the AGOCO at the latter’s headquarters.
Commenting on the meeting, the Chairman of AGOCO, Mohamed Ben Shatwan, said in an exclusive interview with Libya Herald that the NOC’s support to raise production rates continues well, with constant and direct encouragement from the NOC Chairman, who stressed in this meeting the necessity of working intensively to raise production rates in the company’s oil fields.
Encouraging productivity environment
Ben Shatwan noted that Bengdara had highlighted the necessity of creating an appropriate and encouraging environment for engineers, technicians, and all human cadres working in AGOCO to achieve the necessary motivation for them to achieve greater productivity, leading to raising oil production rates with the maximum possible capacity in the company’s fields.
Impediments to AGOCO raising production discussed
The AGOCO chairman referred to discussing the obstacles and difficulties that stand in the way of increasing AGOCO’s production and prevent the achievement of several goals that the company’s management seeks to implement. These include financial and logistical failings in some of the oil projects implemented by AGOCO, which the NOC chairman promised to solve in a short time. This comes within the NOC’s plans to solve the financial and administrative problems in its affiliated oil companies so that the goal of developing and increasing oil production is achieved.
Ben Shatwan said that AGOCO’s engineers, technicians and cadres were able to overcome many difficulties and were able to address leaks in some oil lines in several fields while activating many of the oil workshops on which the maintenance and modernization of many oil fields and crude transport lines originally depended.
AGOCO produced 94 million barrels in 2022
It is worth noting that the AGOCO produced about 94 million barrels of crude oil in 2022 with an average daily production of 280,000 barrels of oil, of which 66 million barrels were exported from the Hariga oil port in Tobruk, via 69 oil tankers.
