The National Oil Corporation’s (NOC) subsidiary, the Arabian Gulf Oil Company (AGOCO), reported today that it has completed the drilling of exploration well D2-NC4 located in the NC4 concession in the northern Ghadames oil basin.
The well has produced test results of 4,879 barrels of crude oil per day (bpd) and 5.5 million cubic feet of natural gas per day.
AGOCO reported that the results of the analysis of the well has shown the presence of multiple oil reservoirs in the formations.
The company said the results represent a qualitative addition to its efforts to increase domestic production and come as a continuation of the ambitious development plans pursued by the NOC to raise the efficiency and sustainability of production operations in the Libyan oil sector.
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AGOCO oil production reaches 304,000 bpd – the highest ”in years”
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NOC reports further oil and gas production increases
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Libya’s oil production reaches a new record level of 1.374 million bpd: NOC
NOC’s increased production announcements – approaching 1.5 million barrels per day
