No Result
View All Result
Monday, July 7, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Total buys Marathon’s Libya Waha concession

bySami Zaptia
March 2, 2018
Reading Time: 1 min read
A A
Total buys Marathon’s Libya Waha concession

Total has acquired Marathon's share in the Waha concession.

By Sami Zaptia:

Total has acquired Marathon's share in the Waha concession.
Total has acquired Marathon’s share in the Waha concession.

London, 2 March 2018:

French oil giant Total has acquired US oil company Marathon’s 16.33 percent stake in the Waha concession in Libya for US$ 450 million.

Total says this will give it access to reserves and resources in excess of 500 million barrels of oil equivalent (boe) and immediate production of around 50,000 boe/day. It will also give it an exploration potential in the Sirte Basin concession across the area of 53,000 km sq.

“This acquisition is in line with Total’s strategy to reinforce its portfolio with high quality and low-technical cost assets whilst bolstering our historic strength in the Middle East and North Africa region,” said Patrick Pouyanné, Chairman and CEO of Total.

RELATED POSTS

Whiba Group’s Al-Dafniya Food Complex realizes first exports to France

UNICEF and France partner in “Baity-My Home” initiative for vulnerable children

“It builds on the Group’s long-term presence in Libya, a country with very large oil and gas resources, and demonstrates our commitment to continue supporting the recovering oil and gas industry of the country.”

Total said that the Waha Concessions currently produce around 300.000 boe/d, and due to the ongoing restart of the existing installations and the resumption of development drilling, the output is expected to ramp up and exceed 400.000 boe/d by the end of the decade.

The NOC (59.18%), Total (16.33%), ConocoPhillips (16.33%) and Hess (8.16%) jointly own the Waha Concessions. The Waha Oil Company, a 100% NOC owned entity, operates the asset.

Total has been present in Libya since 1954. In 2017, the group’s production was 31.500 boe/d. This production comes from the offshore Al Jurf field (Total, 37.5%) and the El Sharara onshore area (Total, 15% on block ex-NC 115 and 12% on block ex-NC 186).

 

Continue Reading
Tags: featuredFranceMarathon oilTotalWaha Oil

Related Posts

CBL receives results from meetings with international banks
Business

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

July 2, 2025
Libya Herald exclusive: Responding to the prime minister’s call yesterday to the private sector and banks to do more, leading businessman Husni Bey responds
Business

Op-Ed: Reputational Damage Is Worse Than Losing Money

July 2, 2025
Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement
Business

All imports into Libya must be paid for through official bank transactions

July 2, 2025
World Bank holds off on Tunisian $50m power plant fund; implications for Libya
Business

Libya’s economy showed recovery in 2024, remained resilient despite reliance on hydrocarbons and ongoing political and security instability: World Bank

July 1, 2025
CBL receives results from meetings with international banks
Business

CBL demands imports are conducted through official banking instruments and the elimination of the FX black market

July 1, 2025
Harouge Oil reaches record 45,000 bpd production – to increase it by 25,000 bpd
Business

Harouge Oil Operations Company replaces Al-Ghani field pipeline

July 1, 2025
Next Post
Libyan boxer Malik Zinad notches up another win

Libyan boxer Malik Zinad notches up another win

CBL assures public of continuation of its policies that have led to recent positive results

ADVERTISEMENT

Top Stories

  • Libya Herald exclusive: Responding to the prime minister’s call yesterday to the private sector and banks to do more, leading businessman Husni Bey responds

    Op-Ed: Reputational Damage Is Worse Than Losing Money

    0 shares
    Share 0 Tweet 0
  • All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • CBL demands imports are conducted through official banking instruments and the elimination of the FX black market

    0 shares
    Share 0 Tweet 0
  • A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

    0 shares
    Share 0 Tweet 0
  • Libya’s economy showed recovery in 2024, remained resilient despite reliance on hydrocarbons and ongoing political and security instability: World Bank

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

Op-Ed: Reputational Damage Is Worse Than Losing Money

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.