Libya’s state Arabian Gulf Oil Company (AGOCO) announced today that it has increased production at its V29-NC8A well in the Hamada field to more than 550 barrels per day.
It reported that it has successfully completed its work on the well which has been idle since 2016.
Giving more technical details, AGOCO explained that the layers producing large quantities of associated water were isolated and other layers (AOA and AOB) were created and perforated. This reduced the water ratio from 100% to only 43%, and oil production increased from 0 barrels per day to more than 550 barrels.
This production increase, it added, comes as part of the implementation of the National Oil Corporation’s strategic plan to increase production.
