The Arabian Gulf Oil Company (AGOCO), powered by a dedicated team of Libyan engineers, has successfully revived a well that had been inactive for 17 years at the Sarir oil field.
The well, designated as C309-65, was transformed from a non-producing observation well into a productive asset, now delivering an impressive 1,134 barrels of oil per day.
The operation has achieved a remarkably low water cut of just 2.9%, utilizing directional drilling, re-entry techniques, and modern technology from companies like Kamco and Baker Hughes, featuring VisiTrak systems.
For the first time in North Africa, the latest smart completion tools (AICV) developed by Norway’s Inflow Control and Smart Well Company were used to minimize water production, setting a new industry standard in the region.
Mohamed Ben Shatwan, Chairman of AGOCO’s Management Committee, extended heartfelt thanks and appreciation to everyone involved in the project, marking it as a pivotal step in the company’s strategy to boost production and fulfill its strategic plans.
This breakthrough not only highlights the capabilities of Libyan engineering talent but also signals a promising advancement in oil extraction technology, potentially setting the stage for future enhancements across the North African oil sector.
Notably, Chairman of Libya’s National Oil Corporation (NOC), Farhat Bengdara, inaugurated the Technology of Oil & Gas and Sustainable Energy International Conference & Exhibition (TOGSE) in the capital, Tripoli.
Bengdara stressed the significance of scientific research and human resource development in the oil and gas sectors during his opening speech.
During the two-day conference, Bengdara highlighted the restructuring of the Oil Research Center as a priority, aiming to enhance its capabilities and focus on scientific research activities, strengthening the corporation’s branches and subsidiaries in this field.
“We aim for the Oil Research Center to play a significant and effective role in preparing reservoir studies, which were previously prepared by foreign companies,” he said.
Khalifa Abdulsadik, Libya’s Acting Minister of Oil and Gas in the Government of National Unity (GNU), forecasts oil prices could reach $100 per barrel due to ongoing supply-demand imbalances and escalating geopolitical tensions.
