Libya’s state-owned Arabian Gulf Oil Company (AGOCO) announced today that it had succeeded in reactivating an old well that had stopped any output to return to a production of 1,200 barrels per day. The well, AGOCO reported, had been naturally producing during 2022 an amount of oil not exceeding 200 barrels of oil per day. The well then stopped producing since the beginning of this year. This process resulted in the return of the well’s production to about 1,200 barrels per day. AGOCO said the work on the old well and its return to production comes as part of its policy, set by the National Oil Corporation, to increase overall production rates.
