NOC Discusses 2021 Oil Budget with AGOCO

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The General Administration of Petroleum Industries at the National Oil Corporation (NOC), held the technical meeting for the year 2020. This was with the Benghazi-based, Arabian Gulf Oil Company (AGOCO).

During the virtual meeting, the two sides reviewed the precautionary measures taken at the refineries and explained these were taken “in order to ensure the health and safety of the workers, as well as the safe and optimal flow of operations.”

They also discussed the activities and operations of the Tobruk, and Al-Sarir refineries, including current ongoing projects. They reviewed the proposed estimated budget for 2021.

The meeting was attended by the Chairman of the Management Committee of AGOCO, Mohamed Bin Shatwan, general directors, and department directors. The NOC’s Director General of the General Administration of Petroleum Industries, Khaled Goueli also attended the meeting.

In September Field Marshal Khalifa Haftar, announced the resumption of oil production and export, “as long as funds are not used to finance terrorism.”

The NOC expects the oil fields to produce about 300,000 barrels per day, by next week. Notably, Libya’s daily oil production was more than 1.2 million bpd, before the blockade.