The Sirte Oil Company (SOC) operates the Raguba field.

Raguba field has 80 wells producing high gravity (43 °API) oil.

The first exploration oil well in this field was drilled in January 1961 with production commencing in 1963.

By the end of 2005, the field had produced 787 million standard barrels of oil and 859×10^9 cu ft (2.43×1010 m3) of associated gas.

Overall, the Sirte Basin contains approximately 80% of Libya's proven oil reserves and accounts for 90% of production.