The Arabian Gulf Oil Company (AGOCO) – a subsidiary of Libya‘s state-owned National Oil Corporation – has completed production tests on the new Y5-51 well at the onshore Nafoura oil field.
Situated in the Sirte basin, the well achieved a natural production rate of 2,710 barrels of crude oil per day with an associated water content of less than 1%. The testing is part of the company’s 2023 drilling development plan.
According to AGOCO, this result underscores the success of its strategy for field development and capacity expansion. Furthermore, it also aligns with the Libyan government’s goal to increase oil production to two million barrels per day by 2026.
