AGOCO Returns Well to Production at Libyan Field

Libya's AGOCO said it had returned the EE1HR-80 well at the Majid field to production at a rate of 5,322 barrels per day after it had been offline for more than nine years. The well was shut down due to a lack of resources, two engineers at the company told Reuters.

Libya's oil production has faced repeated shutdowns for political and technical reasons since the 2011 uprising that toppled Muammar Gaddafi. Oil production is Libya's main economic source, representing ​approximately 90% ⁠of the country's economy.