Total’s Waha purchase signals wider Libyan detente


Issue 365 - 15 Mar 2018 | 3 minute read
On 2 March, Total announced its purchase of Marathon Oil Libya and with it a 16.33% stake in the Waha concession for $450m. The concession’s total output of 300,000 b/d has not significantly increased since the original US partners, including Hess and ConocoPhillips, who developed the fields under the name of Oasis Oil the 1950s, were allowed back into the assets in 2005 following the end of US sanctions against the regime of the late Colonel Muammar Qadhafi.

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