AGOCO and Chevron explore cooperation to develop oil fields

The Arabian Gulf Oil Company (AGOCO) and the National Oil Corporation (NOC) have discussed mechanisms for cooperation with global energy company Chevron as part of a strategic effort to enhance oil field production capacity and improve operational efficiency in Libya’s energy sector.

AGOCO said its management committee and technical departments held an expanded meeting with the team assigned by the NOC to follow up on cooperation with Chevron and discuss the next steps for advancing the partnership.

The meeting focused on strengthening technical and operational cooperation between the relevant parties, supporting the development of Libya’s oil fields, and benefiting from international expertise and advanced technologies to help stabilize and increase national oil production while improving operational performance.

The meeting was attended by AGOCO Management Committee Chairman Mohamed Belqasem Bin Shtwan, NOC-appointed committee chairman Belqasem Shnagir, along with a number of senior officials and technical specialists.

Participants said the meeting forms part of a series of coordination efforts aimed at unifying cooperation between the NOC and AGOCO while strengthening strategic partnerships with international energy companies, helping Libya’s oil sector address future challenges.

The cooperation comes as part of broader efforts to modernize oil production, improve the efficiency of field development, and leverage advanced technologies and technical expertise to support the long-term sustainability and competitiveness of Libya’s energy sector.