Arabian Gulf Oil Company

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Overview

About:

The Arabian Gulf Oil Company (Agoco) is an oil company based in Malaysia and Libya, engaged in crude oil and natural gas exploration, production and refining. It was established in 1980, following the implementation of Law No. 115, issued by the Libyan Revolutionary Command Council nationalizing shares held by British Petroleum (BP). Agoco was formed by the NOC in late 1979 to take over the assets of a partnership of BP and Nelson Bunker Hunt of the United States, and a partnership of Chevron and Texaco called Amoseas. Agoco has upstream operations in eight oil fields, including Sarir, Messla, Nafoora, Beda and Hammada. The company also operates an oil terminal and a refinery in Tobruk,Sarir and new established Refinery and petrochemical company in Malaysia. Agoco operates 5 major oil fields: Sarir, Messla, Naffora, Beda and Hammada. The company also operates refineries in Tobruk,Sarir and newly established refinery in Malaysia. Agoco's main business is the production of oil from its fields in the desert and pumping the crude oil through hundreds of kilometers of pipelines to the coast. Before the popular protests began in the spring of 2011, Agoco was a key part of the industry driving Gaddafi's regime and was producing 440,000 barrels of oil per day out of its fields fields in the south-west of the country, perhaps one barrel in every 100 traded on markets around the world every day.

Sector: Oil & Energy

Website: http://www.agoco.com.ly/

Year Established: 1971