Report summaryAgoco's NC7 fields are located in Libya's Illizi Ghadames Basin. The fields lie around 135 kilometres northwest of the El Hamra fields, also operated by Agoco. The Gazeil oil field was the first discovery on the block in 1960. Since then, 12 other fields have been discovered, the largest of which are the NC7-D and NC7-V oil and gas discoveries. The fields are characterised by light crude which is low in sulphur content, whilst gas is typically associated. Agoco has yet to secure a development licence for the block, despite the large reserves in the licence area. The timely resolution of Libya's myriad of challenges is key to the future of the upstream industry, particularly the approval and execution of greenfield oil and gas projects.
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