Total: pens agreement in Libya
(CercleFinance.com) - Total announces that, with the National Oil Corporation (NOC) in collaboration with the Libyan government, it has reached an agreemennt to implement Total's participation in the Waha concessions, located in the Sirte Basin in Libya.
The group said, "On March 1, 2018, Total acquired a 16.33% working interest in the six Waha concessions by the purchase of Marathon Oil Libya Limited (MOLL), a wholly owned affiliate of the U.S.-based Marathon Oil Corporation. The Waha concessions currently produce about 350,000 barrels of oil equivalent per day (boe/d)."
It continues, saying, "The acquisition gives Total access to reserves and resources in excess of 500 million barrels of oil equivalent and a significant exploration potential across the 53,000 square kilometers area covered by the concessions."
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