01-09-09 NOC of Libya has announced that Arabian Gulf Oil Company (AGOCO), a wholly owned by NOC reports that it has drilled the B1-NC4 new field wildcat well to a total depth of 10,500 feet.
The well is located in onshore in the Ghadames Basin approximately 190 km south of Tripoli.

The Arabian Gulf Oil Company was established by law no. 115/71 issued by the revolutionary council on the 7th of December 1971 and is an exploration company in which the shares of the British Petroleum (BP) were nationalized in concession no.65 covering the Sarir field. On the 7th of April 1971 the company started by operating one oil field Sarir and one oil terminal Marsa El Hrega in Tobruk.
AGOCO over the years has extensively developed the field and now it undertakes the production and operation of eight oil fields, and one terminal for exporting crude oil, and two refineries.