Libya’s Arabian Gulf Oil Company: electricity instability affected the production of Al-Sarir field

The chairman of Libya’s Arabian Gulf Oil Company (AGOCO) Mohamed Shatwan, said on Monday that many wells were shut because of ageing infrastructure and a lack of power in a number of fields, including Al-Sarir field.

In an interview with Reuters on Monday, Shatwan said that Al-Sarir field needed converter stations and transformers because it had more than 500 square kilometers and needed to ensure that energy supplies continued.

Since 2014, the company has been waiting to replace old turbines in Al-Sarir field with 2 new turbines being assembled, the chairman said, noting that the old ones had been installed in 1960.

The company will buy three mobile turbines with a capacity of 5 megawatts each, to solve the power problem until the installation of the new turbines, according to Reuters.

Shatwan refused to disclose to Reuters, the current or future levels of production of fields belonging to the Arabian Gulf, according to the agency.

On the other hand, a source in AGOCO said to Reuters, the production of the company fell more than 50% compared to production levels in October last year.

The source, who asked to not be named, said the production of AGOCO fell on Monday, to 140 thousand barrels per day after it was, last October, 320 thousand barrels per day, according to the agency.

The Organization of the Petroleum Exporting Countries (OPEC) has excluded Libya and Nigeria from an OPEC-led cut in production to counter oil prices.

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