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Libya's Agoco Oil Output at 331,000 bpd

Source: Reuters 3/22/2012, Location: Africa

Libya's Arabian Gulf Oil Co (Agoco) is producing around 331,000 barrels of oil per day (bpd) and hopes to reach full production in a few weeks, a spokesman said. "We hope that we will reach our normal production at the beginning of April," Agoco spokesman Abdeljalil Mayuf said by phone.

The Benghazi-based company had previously said it expected to return to full output of 425,000 bpd by the end of February. However, electricity problems, mainly a delay in restoring full power at some oil fields, have meant this has been pushed back.

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