Entity

Arabian Gulf Oil Company (AGOCO) is Libya's leading upstream oil and gas exploration, production, and refining company, wholly owned by the National Oil Corporation (NOC).

The company traces its origins to 1971 when the Arabian Gulf Exploration Company (AGECO) was established following the nationalization of British Petroleum's shares under Libya's Law No. 115. AGOCO was formally reformed by NOC in late 1979 to take over the assets of partnerships previously held by BP, Nelson Bunker Hunt, Chevron, and Texaco.

Headquartered in Benghazi with an additional office in Tripoli, AGOCO operates eight major oil fields including the Sarir field (one of Libya's largest with 4.8 billion barrels of proven reserves), Messla, Nafoora, Beda, and Hamada fields.

The company operates two refineries—Sarir Refinery (10,000 bpd capacity) and Tobruk Refinery (20,000 bpd capacity)—and the Tobruk crude oil terminal.

With approximately 6,000 employees (over 99% Libyan nationals), AGOCO currently produces roughly 430,000-400,000 barrels per day, representing approximately 25% of Libya's total crude oil production.