Arabian Gulf Oil Company
Encyclopedia
The Arabian Gulf Oil Company (Agoco) is an oil company based in Benghazi
, Libya
, engaged in crude oil and natural gas
exploration, production and refining. It was a subsidiary of the state-owned National Oil Corporation
(NOC).
nationalizing shares held by British Petroleum (BP). Agoco was formed by the NOC in late 1979 to take over the assets of a partnership of BP and Nelson Bunker Hunt
of the United States
, and a partnership of Chevron
and Texaco
called Amoseas. Agoco has upstream operations in eight oil fields, including Sarir, Messla, Nafoora, Beda and Hammada. The company also operates an oil terminal and a refinery
in Tobruk and Sarir.
was discovered in the Sirte Basin
by BP
in 1961 is considered the country's largest field. The Messla field was discovered in 1971 and is situated 500 km southeast of Benghazi and is also considered as one of the biggest fields in the Sirte basin. Nafoora field is situated in the northeastern part of the Sirte basin and discovered in early 1965. The Beda and Hamada fields were discovered during 1959, in the eastern Sirte basin and the southern border of the Grahames basin respectively. Bede and Hamada are nearly considered dead fields unless new Enhanced oil recovery
technology can be implemented. Additionally, Agoco often operates fields owned by other companies. Agoco production was estimated by NOC at around 430000 oilbbl/d in 2003. As of 2007, Agoco produced around 440000 oilbbl/d, representing approximately 40% of total Libyan crude oil production.
units installed to produce 750 cm/d of drinking water from the Mediterranean Sea
. The General contractor
for the project was United Kingdom
-based Weir Westgarth Ltd., a subsidiary of the Weir Group
. Currently, Tobruk has an estimated capacity of 20000 oilbbl/d.
The Marsa El Hariga Terminal (Tobruk
) is situated on the southern coast of the Tobruk trading port. Construction of the terminal started in 1964, and was completed in 1966. The Marsa El Hariega oil terminal was officially inaugurated by exporting the first shipment of crude oil from Sarir in 1967. The crude from Sarir is pumped through a 400 km pipeline, with an auxiliary pumping station between Sarir and the terminal. Marsa El Hariga has three berths
with a loading capacity of 8,000 tons/hour for tankers of up to . Other ancillary
facilities at the terminal include oil products storage tanks with a capacity of 116,500 cubic metres.
Benghazi
Benghazi is the second largest city in Libya, the main city of the Cyrenaica region , and the former provisional capital of the National Transitional Council. The wider metropolitan area is also a district of Libya...
, Libya
Libya
Libya is an African country in the Maghreb region of North Africa bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west....
, engaged in crude oil and natural gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
exploration, production and refining. It was a subsidiary of the state-owned National Oil Corporation
National Oil Corporation
The National Oil Corporation is the national oil company of Libya. It dominates Libya's oil industry, along with a number of smaller subsidiaries, which combined account for around 70% the country's oil output...
(NOC).
Overview
Agoco's roots go back to 1971 when the Arabian Gulf Exploration Company (AGECO) was established, following the implementation of Law No. 115, issued by the Libyan Revolutionary Command CouncilLibyan Revolutionary Command Council
The Libyan Revolutionary Command Council was the twelve-person body that governed Libya after the 1969 revolution. Col. Muammar Gaddafi was its chairman.The other initial members were as follows:...
nationalizing shares held by British Petroleum (BP). Agoco was formed by the NOC in late 1979 to take over the assets of a partnership of BP and Nelson Bunker Hunt
Nelson Bunker Hunt
Nelson Bunker Hunt is an American oil company executive. He is best known as a former billionaire whose fortune collapsed after he and his brother William Herbert Hunt tried but failed to corner the world market in silver. He is also a successful thoroughbred horse breeder.-Personal:Hunt was born...
of the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, and a partnership of Chevron
Chevron Corporation
Chevron Corporation is an American multinational energy corporation headquartered in San Ramon, California, United States and active in more than 180 countries. It is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining,...
and Texaco
Texaco
Texaco is the name of an American oil retail brand. Its flagship product is its fuel "Texaco with Techron". It also owns the Havoline motor oil brand....
called Amoseas. Agoco has upstream operations in eight oil fields, including Sarir, Messla, Nafoora, Beda and Hammada. The company also operates an oil terminal and a refinery
Refinery
A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value.-Types of refineries:Different types of refineries are as follows:...
in Tobruk and Sarir.
Agoco Fields
The Sarir fieldSarir field
The Sarir Field was discovered in southern Cyrenaica during 1961 and is considered to be the largest oil field in Libya, with estimated oil reserves of...
was discovered in the Sirte Basin
Sirte Basin
The Sirte Basin is a late Mesozoic and Tertiary triple junction continental rift along northern Africa that was initiated during the late Jurassic Period. It borders a relatively stable Paleozoic craton and cratonic sag basins along its southern margins...
by BP
BP
BP p.l.c. is a global oil and gas company headquartered in London, United Kingdom. It is the third-largest energy company and fourth-largest company in the world measured by revenues and one of the six oil and gas "supermajors"...
in 1961 is considered the country's largest field. The Messla field was discovered in 1971 and is situated 500 km southeast of Benghazi and is also considered as one of the biggest fields in the Sirte basin. Nafoora field is situated in the northeastern part of the Sirte basin and discovered in early 1965. The Beda and Hamada fields were discovered during 1959, in the eastern Sirte basin and the southern border of the Grahames basin respectively. Bede and Hamada are nearly considered dead fields unless new Enhanced oil recovery
Enhanced oil recovery
Enhanced Oil Recovery is a generic term for techniques for increasing the amount of crude oil that can be extracted from an oil field...
technology can be implemented. Additionally, Agoco often operates fields owned by other companies. Agoco production was estimated by NOC at around 430000 oilbbl/d in 2003. As of 2007, Agoco produced around 440000 oilbbl/d, representing approximately 40% of total Libyan crude oil production.
Refineries and Oil Terminal
The Sarir refinery started operations in 1989 and has a refining capacity of 30000 oilbbl/d. The fuel supply from the refinery meets requirements for the Sarir Agricultural Project as well as for the general area. Agoco also has a 9000 oilbbl/d portable petroleum refinery or topping plant at Sarir. The Tobruk refinery has been on stream since 1971 and entered the production phase during 1989. In 1990, the refinery operations were transferred to Agoco after being directly managed by the NOC. In 1996, Tobruk had two thermo-compression distillationDistillation
Distillation is a method of separating mixtures based on differences in volatilities of components in a boiling liquid mixture. Distillation is a unit operation, or a physical separation process, and not a chemical reaction....
units installed to produce 750 cm/d of drinking water from the Mediterranean Sea
Mediterranean Sea
The Mediterranean Sea is a sea connected to the Atlantic Ocean surrounded by the Mediterranean region and almost completely enclosed by land: on the north by Anatolia and Europe, on the south by North Africa, and on the east by the Levant...
. The General contractor
General contractor
A general contractor is responsible for the day-to-day oversight of a construction site, management of vendors and trades, and communication of information to involved parties throughout the course of a building project.-Description:...
for the project was United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
-based Weir Westgarth Ltd., a subsidiary of the Weir Group
Weir Group
The Weir Group plc is an engineering company headquartered in East Kilbride, Scotland. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.-History:...
. Currently, Tobruk has an estimated capacity of 20000 oilbbl/d.
The Marsa El Hariga Terminal (Tobruk
Tobruk
Tobruk or Tubruq is a city, seaport, and peninsula on Libya's eastern Mediterranean coast, near the border with Egypt. It is the capital of the Butnan District and has a population of 120,000 ....
) is situated on the southern coast of the Tobruk trading port. Construction of the terminal started in 1964, and was completed in 1966. The Marsa El Hariega oil terminal was officially inaugurated by exporting the first shipment of crude oil from Sarir in 1967. The crude from Sarir is pumped through a 400 km pipeline, with an auxiliary pumping station between Sarir and the terminal. Marsa El Hariga has three berths
Berth (moorings)
A berth is a location in a port or harbour used specifically for mooring vessels while not at sea.-Locations in a port:Berth is the term used in ports and harbors to define a specific location where a vessel may be berthed, usually for the purposes of loading and unloading.Most berths will be...
with a loading capacity of 8,000 tons/hour for tankers of up to . Other ancillary
Ancillary
*Ancillary administration*Ancillary jurisdiction*Ancillary statistic*Ancillary data*Ancillary relief*Ancillary doctrine*Diacritic, an ancillary glyph added to a letter...
facilities at the terminal include oil products storage tanks with a capacity of 116,500 cubic metres.