Libya's Agoco hopes for full oil output in April

Libya's Arabian Gulf Oil Company (Agoco) is producing around 300,000 barrels per day (bpd) and hopes to reach full production in April, later than previously thought because of electricity problems at some fields, a spokesman said on Thursday.

The Benghazi-based company had previously said it expected to return to full production of 425,000 bpd by the end of February. However a delay in restoring full power at some oilfields has meant this has been pushed back.

"It is around 300,000 (bpd)... Maybe in April we will reach our normal production," Agoco's Abdeljalil Mayuf said by phone.

He said the bigger Sarir and Messla fields had received new equipment which should increase production by the end of the month.

"I think the electricity problem is now under control," Mayuf said. "If they have full electricity capacity, they can manage to produce the maximum."

(Source: Reuters)

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