In January, the Libyan public company NOC announced that it is preparing to launch two oil projects that will generate around 18,000 barrels per day.
On Monday February 21, the Arabian Gulf Oil Company (AGOCO), a subsidiary of the Libyan state-owned oil company (NOC), announced that it had started production of 14,000 barrels per day of oil on the Tahara field, in the Hamada Basin. It is a rocky plateau with sandy basins, in the western part of the Libyan Sahara.
The kickoff of the production was given by Mustafa Sanallah, the boss of the NOC. Apart from crude oil, the field will also produce 6 million cubic feet of natural gas per day, which will be used to meet the energy needs of the field itself.
According to AGOCO, the site’s production has the potential to be increased to 40,000 barrels per day, thanks to additional wells whose development could be considered.
The North African country currently produces 1.2 million barrels of oil per day and is exempt from quota reductions in its supply.