KEY POINTS
- AGOCO reactivates Nafoura well (1,200 bpd) and introduces advanced U.S. technologies to increase oil production.
- The company seeks international partners, applying enhanced oil recovery techniques and tackling operational challenges.
- Initiatives include converting oil production wastewater for reuse, promoting sustainability, and attracting foreign investment.
AGOCO has resumed production at its stalled Nafoura well, now yielding 1,200 barrels per day (bpd). Chairman Mohamed Ben Shatwan revealed that the company is pursuing modern U.S. technologies to enhance oil output and extend the life of existing wells.
The company is courting foreign technical service firms to bring new competition to Libya’s oil sector. Talks were held with major players like Merger, Petro-Biul, and H.K.M. to explore investment opportunities in Libyan oil fields.
Focus on Enhanced Oil Recovery (EOR)
AGOCO aims to leverage American expertise in enhanced oil recovery, including gas, water, and chemical injection techniques, to boost well efficiency and production longevity. Discussions also addressed operational challenges, such as scale and blockage removal in wells.
Ben Shatwan highlighted initiatives to treat oil and gas production wastewater for agricultural and other uses, representing a major step in sustainable water management and environmental responsibility.
These initiatives are seen as a gateway for international investment in Libya’s oil sector, promoting technological localization, fair competition, and lower operating costs.
AGOCO’s plans were shared during CERAWeek 2026 in Houston, Texas, which focused on “Convergence and Competition: Energy, Technology and Geopolitics,” attracting executives and energy leaders worldwide.
