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Libya Observer

AGOCO, NOC review production increase, financial challenges in annual meeting

The Arabian Gulf Oil Company (AGOCO) held its annual technical meeting with the National Oil Corporation (NOC) on Sunday morning, focusing on production rates, well maintenance, and the company's current financial standing. AGOCO said the meeting included a presentation on the company's financial situation and a detailed discussion of the major financial challenges it faces. The discussions aimed to find solutions to overcome obstacles and meet production targets set by both AGOCO and the NOC. The meeting was chaired by Acting Chairman of the Management Committee, Awad Gwidir, and attended by senior officials from both the NOC and AGOCO, including Management Committee members Mustafa Al-Dinaly and Ahmed Al-Zway. Attendees reviewed several key technical issues affecting operations, including health, safety, and environmental standards, alongside matters related to production levels. Gwidir stressed the need to double efforts and maintain a serious work ethic to boost oil production across AGOCO-operated fields. He also praised the ongoing efforts of the company's staff—including supervisors, engineers, technicians, and workers. Tags: agoco National Oil Corporation