Libya Approves Total's $650 Million Oil Investment

Libya’s National Oil Corporation (NOC) approved Total’s acquisition of Marathon Oil’s stake in the Waha field on Wednesday.

The French supermajor, which acquired 16.33% of the asset, had initially signed a $450 million deal with Marathon Oil in March 2018, but had not yet secured approval from NOC.

Through its planned $650 million investment, Total plans to increase production by 180,000 barrels per day through development of the North Gialo and NC 98 projects.

More: https://africaoilandpower.com/2019/12/11/total-to-invest-650-million-in-libyas-waha-asset/