Benghazi – The Chairman of Arabian Gulf Oil Company (AGOCO), Engineer Mohammed Ben Shatwan, revealed the company’s efforts. They are actively working to boost production capabilities. This includes utilizing the latest American technological innovations.
The AGOCO Chairman held a series of meetings. These were with leading American energy companies. The meetings took place during his participation in the World Energy Conference. Houston, USA, hosted this conference.
Engineer Ben Shatwan indicated AGOCO aims to introduce new international competitors. These will enter the Libyan oil market. The focus is on companies specializing in technical services and innovative solutions. He held extensive discussions with officials from leading global firms. These include “Merger” and “Peter Boyle.” They explored cooperation and investment opportunities. The goal is to develop oil fields.
Technical discussions focused on Enhanced Oil Recovery (EOR) techniques. The American oil industry is renowned for these methods. EOR includes gas injection, water injection, and chemical injection processes. These techniques directly increase well efficiency. They also extend the productive life of wells. The talks also covered solutions for complex operational challenges. This included treating deposits and blockages. These issues impede crude oil flow within wells.
The Chairman of the Management Committee affirmed the company’s interest in environmental and strategic aspects. AGOCO is interested in treating produced water. There are promising opportunities to convert “pond” water. This water could become suitable for irrigation and other uses. This represents a significant step in utilizing water resources. It also improves the environmental performance of oil operations in Libya.
Ben Shatwan concluded these initiatives open wide prospects for foreign investment. This specifically targets the Libyan oil sector. They support the state’s strategy to increase daily production rates. This is achieved by localizing modern technologies. Fair technical competition will also reduce operational costs.