Libya’s Arabian Gulf Oil Company (AGOCO) has held high-level talks with British energy giant BP to advance the implementation of their joint Memorandum of Understanding (MoU), signed earlier this year with the National Oil Corporation (NOC).
The agreement focuses on conducting technical and developmental studies for the Sarir and Messla oil fields and exploring the hydrocarbon potential in several of AGOCO’s concession areas.
The meeting took place at AGOCO’s headquarters in Benghazi and brought together representatives from all three parties. It was chaired by Mohamed Ben Shatwan, Chairman of AGOCO’s Management Committee, and attended by Abdelmonem Buteikh, Director of Exploration at the NOC. BP was represented by its General Manager in Libya, Mahmoud Ismail, who was accompanied by a multidisciplinary technical team comprising experts in geology, geophysics, and petroleum engineering.
Participants discussed ways to enhance cooperation in geological and geophysical research, data analysis, and reservoir evaluation. The talks also emphasized integrating modern technology and advanced methodologies to support the efficient development of AGOCO’s oil fields and increase production output.
According to company officials, the meeting reflects a renewed momentum in Libya’s oil sector and highlights the NOC and AGOCO’s commitment to working closely with international partners to strengthen exploration and production capabilities. The collaboration with BP is expected to provide significant technical expertise and investment to boost field recovery rates and optimize resource management.
The Sarir and Messla fields, located in eastern Libya, remain among the country’s most important oil-producing assets. Enhanced studies and joint development plans could play a key role in sustaining Libya’s production targets and attracting further foreign partnerships to the nation’s energy sector.
