Latest news with #MohamedBenShatwan
Libya Review
6 days ago
- Business
- Libya Review
Libyan Technical Teams Complete Diesel Plant Restart
Technical teams from the Arabian Gulf Oil Company (AGOCO) have successfully restarted the diesel processing plant at the Al-Bayda oil field, following directives from company chairman Mohamed Ben Shatwan and board member for operations, maintenance, refineries, and supply, Awad Akweidir. The restart was achieved after the implementation of a precise work plan, mobilizing all necessary technical and logistical resources. The effort involved coordination between pipeline departments, maintenance coordinators from the Sarir, Al-Bayda, and Nafoura fields, as well as the Al-Bayda field management team, operations coordinators, and refinery management. AGOCO confirmed that the operation was carried out to the highest technical standards, delivering outstanding results that highlight the expertise of the company's national workforce. The company expressed its appreciation for the dedicated efforts and spirit of teamwork that ensured the project was completed efficiently and within the scheduled timeframe. Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations. Libya's economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya's economy. The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions. The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition. Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges. Tags: AGOCOEnergylibyaoil
Libya Review
05-07-2025
- Business
- Libya Review
Benghazi Hosts Libya's Key Energy Innovation Forum
The Benghazi Energy Innovation Forum officially kicked off on Saturday, aiming to explore new opportunities for Libya's energy future. Organized by Arkino Oil Company in collaboration with the National Oil Corporation (NOC) and the Arabian Gulf Oil Company (AGOCO), the forum is held under the theme: 'Exploring New Opportunities for Libya's Energy Future.' The event brings together top leaders from Libya's energy sector and executives of oil companies to discuss strategic prospects, drive innovation, and strengthen collaboration between the public and private sectors. The opening ceremony was attended by Masoud Suleiman, Chairman of the Board of Directors at the National Oil Corporation, and Mohamed Ben Shatwan, Chairman of the Management Committee at AGOCO, along with CEOs of NOC-affiliated companies and several executives from major international oil firms. In his speech, NOC Chairman Masoud Suleiman emphasized the crucial role of such forums in driving innovation and advancing Libya's energy sector to meet future challenges and achieve sustainable development. Mohamed Ben Shatwan of AGOCO highlighted that the forum reflects a renewed national movement to revitalize Libya's oil and gas industry. He stressed the importance of ensuring its sustainability and improving efficiency amid current challenges. He also praised Arkino Oil Company's initiative and its key role in supporting AGOCO's efforts to maintain and increase production through successful partnerships. Ben Shatwan further underscored that recent accomplishments prove the importance of cooperation between the public sector and serious local investors. He pointed out the vital role of advanced technologies and innovation in boosting production and enhancing operational performance. He concluded by affirming that new discoveries, digital transformation, and improved operational efficiency are fundamental pillars for the future development of Libya's oil sector, calling for enhanced collaboration and knowledge sharing under the NOC's umbrella to serve the national economy and strengthen Libya's global energy position. The forum continued with technical workshops and discussion panels focused on the latest technologies and developments in the energy field, aiming to promote the adoption of innovative solutions to support the growth of Libya's oil and gas sector. Tags: AGOCObenghaziEnergygaslibyanocoil
Libya Review
03-07-2025
- Business
- Libya Review
Libyan Oil Pipeline Restored After Emergency Maintenance
The Arabian Gulf Oil Company (AGOCO) has successfully completed emergency maintenance on a crude oil pipeline following a leak near kilometre point 76 between Hamada and Zawiya. The repair, carried out with precision and speed, ensured no lasting operational or environmental impact, according to the company. The leak was first reported on 23 May 2025. In response, AGOCO's technical teams immediately isolated the pipeline and contained the spill, in accordance with established safety and environmental protocols. This initial action was crucial in protecting nearby infrastructure, workers, and the environment. Following containment, the site was secured using shut-off valves. On 28 May, technicians began extracting residual crude oil from the affected section and redirected it to the Tahara field to prepare for repair work. By 30 May, the company had launched full-scale maintenance, starting with a cold-cutting operation on the 18-inch pipeline. The damaged section was replaced with a new segment using high-quality American-made insulated connectors. Notably, AGOCO opted for a composite bonding technique over traditional welding to avoid technical risks typically associated with high-pressure pipeline repairs. Engineer Mohamed Ben Shatwan, Chairman of AGOCO's Management Committee, praised the swift and professional response of the technical teams. He highlighted their strict adherence to safety standards and engineering excellence, noting that their dedication reflects the company's operational discipline and its commitment to quality. Ben Shatwan added that the successful operation demonstrates the strength of Libya's national oil sector in managing challenges independently. He also acknowledged the effective coordination among national firms to ensure stable oil flow and maintain production targets. AGOCO's prompt intervention has prevented potential disruption to crude exports and reinforced confidence in Libya's oil infrastructure resilience amid broader industry efforts to expand and stabilise output.
