Libyan oil company Agoco held talks with Austrian energy firm OMV on Wednesday, September 30, 2026, to discuss a proposed development plan for the Nafoura field. The meeting, which took place at Agoco's headquarters in Tripoli, was attended by representatives from the National Oil Corporation (NOC), Agoco, and OMV. The discussions focused on the technical aspects of the plan, including solutions to mitigate the decline in reservoir pressure.
The meeting was attended by senior officials from the NOC, including Exploration and Production Director General Najib Al-Tahir Tantush, and representatives from Agoco and OMV. The talks aimed to enhance cooperation between the parties and explore ways to improve the performance of the Nafoura field and increase production efficiency. The development plan is expected to address the challenges facing the field, including the decline in reservoir pressure.
The Nafoura field is a significant oil-producing asset in Libya, and the development plan is expected to play a crucial role in maintaining production levels and maximizing the field's potential. The meeting between Agoco, OMV, and the NOC reflects the ongoing efforts to revitalize Libya's oil sector and attract foreign investment to support the country's energy industry.
The discussions also touched on the exchange of technical expertise and best practices to optimize production from the Nafoura field. OMV's expertise in oil and gas production will be valuable in helping to address the challenges facing the field. The meeting demonstrated the commitment of the parties to work together to achieve their goals.
Libya's oil sector has faced significant challenges in recent years, including the decline in production due to various factors, including lack of investment and infrastructure damage. The development of the Nafoura field is seen as a key step in reviving Libya's oil industry and increasing production levels.
The meeting between Agoco, OMV, and the NOC is a positive step towards enhancing cooperation and achieving the goals of the development plan. The parties are expected to continue their discussions to finalize the plan and implement it as soon as possible.
The development of the Nafoura field is expected to have a positive impact on Libya's economy, which has been struggling in recent years. The increase in oil production will help to boost the country's revenue and support economic growth.
Key points
- Agoco and OMV discuss development plan for Libya's Nafoura oil field
- Meeting aims to address challenges facing the field, including decline in reservoir pressure
- Development plan expected to boost production and support Libya's economy
