The Arabian Gulf Oil Company (AGOCO), owned by the National Oil Corporation (NOC), has converted an abandoned oil well into a productive one with 2,900 barrels per day, the AGOCO announced Monday.
In a press statement, Fadlallah Ahteita, member of the management Committee for Exploration and Production at AGOCO, said the well, located in eastern Libya’s Masala oil field, owned by the Benghazi-based AGOCO, was abandoned 40 years ago.
He added that the well is expected to raise the production of Masala oil field within six months of its operation.
This comes amid the conflicts in Tripoli, which raised the concerns of some officials over its impact on Libyan oil production, particularly after some oil fields, including Zella oilfield, southwest Libya, were hit amid the clashes.
The NOC Chairman Mustafa Sanalla warned Saturday that if a settlement is not reached in Libya to put an end to the civil war and instability in the capital, oil production will be cut by 95 percent.
