WOC was established in 1956 and its first oil discovery
was made in 1959, in Dahra field. In 1962, WOC began
pumping oil to a terminal operated by Conoco, Amerada
Hess and Marathon. In 1968, Shell joined the consortium,
purchasing shares from Amerada Hess. In 1973, after the
Al-Fatah Revolution, company shares were split between
these companies (49%) and NOC (51%). In 1974, Shell declined
to sign this agreement and NOC bought their shares, making
the split 59-41%. This resulted in the formation of Oasis Oil Company.
In 1986, former U.S. President Ronald Reagan issued an Executive Order
to all U.S. oil companies to withdraw from Libya.
Sector: Oil & Energy
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