AGOCO announces new oil discovery in Sirte basin

By Sami Zaptia.

London, 9 March 2020:

Libya’s Benghazi based Arabian Gulf Oil Company (AGOCO) announced the discovery of a new oilfield in the Bayda field (concession 47), part of the Sirte basin.

The discovery came as part of drilling exploratory well Z1-47, located 50 km northwest of the Bayda oil field.

Test production in the well had begun in December 2019 and ended at the beginning of March 2020. The well achieved production of up to 400 barrels of oil per day and 68,000 cubic feet of gas per day, AGOCO reported.

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