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Total acquires Marathon Oil Libya Limited and owns a stake in Waha Concessions category
March 5, 2018
Source: World Oil

Total acquires Marathon Oil Libya Limited and owns a stake in Waha Concessions

Marathon Oil Libya Ltd. which holds a 16.33% stake in Waha Concessions, Libya, has been acquired by French Total. With this, Total will get access to the potential area of exploration which measures 53 kilometre squares in the prolific Sirte basin. Currently, 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.

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