The Arab Petroleum Services Company (APSCo) was established in 1977 according to an Agreement signed between the member states of OAPEC in 1975. The company is based in Tripoli, Libya. It is one of the companies affiliated to the organisation of Arab Petroleum Exporting countries.
The authorized capital was stated at (100) million Libyan Dinars while the subscribed capital was fixed at (15) million Libyan Dinars.
The ten members of OAPEC paid their shares in the subscribed capital as following:-
- U. A. E - 14% %
- Bahrain - 03% %
- Algeria - 10%
- Saudi Arabia - 14%
- Syria - 10% %
- Iraq - 03%
- Qatar - 10%
- Kuwait - 14%
- Libya - 17%
- Egypt - 05%
According to the decision No 209/36/2008 made by the general assembly of APSCO in its extraordinary meeting in Cairo June 26, 2008. The subscribed capital was raised from (15) million Libyan Dinars to (44) million Libyan Dinars.
This Increase in capital was the result of an increase in the shares of APSCO in the Arab Drilling and work over company (ADWOC) And the Arab Geophysical Exploration Services Company (AGESCO)