Tag Archives | Total

Foreign Firms in process of Renewing Libya Licences

By John Lee. A number of foreign firms have reportedly started work on renewing their licences to operate in Libya. According to Reuters, the Economy Ministry suspended 40 foreign firms in May on the grounds that their licenses had expired, before granting a grace period of three months to seek new ones. Tripoli-based economy minister […]

Tripoli Govt “Threatens to Suspend” 40 Foreign firms

By John Lee. The Tripoli-based Government of National Accord (GNA) has reportedly asked 40 foreign firms to renew their licences or have their operations suspended. According to Reuters, the companies, including Total of France, have three months to renew their licences. The decree from the Ministry of Economy and Industry was issued while GNA Prime […]

$20m Fund to Support Communities near Oilfields

By John Lee. The National Oil Corporation (NOC) and a group of international partners made up of Repsol, OMV, Total, and Equinor, known as the ’Repsol Consortium’, have signed a 20-million USD agreement to support a series of sustainable development projects essential for residents adjacent to sites operated by NOC subsidiary Akakus. The 20-million USD […]

New Initiative to Enhance Security in Libya’s Oil Sector

The National Oil Corporation (NOC) is implementing new measures to enhance industrial security in Libya’s oil sector, following a meeting between security directors from NOC and ten international oil companies (IOCs). Among those attending the meeting were directors of NOC industrial security departments, Zulaf Libya Company, and IOC’s including OMV, Schlumberger, Repsol, Wintershall, the Polish […]

GNA to examine Total-Marathon Deal

By John Lee. According to a report from Reuters, Libya is considering whether to intervene in Total‘s $450-million deal to buy Marathon Oil’s stake in the Waha oil field. Officials told the news agency that the National Oil Corporation (NOC) may be interested in buying the 16.33-percent stake, possibly with funds from Libya’s $67-billion sovereign wealth […]

Total buys Marathon’s Waha Oil Concession

Marathon Oil Corporation has announced it has signed and closed on the sale of its subsidiary, Marathon Oil Libya Limited, which holds the Company’s 16.33 percent non-operated interest in the Waha concessions in Libya, to a subsidiary of Total S.A. (Elf Aquitaine SAS) for cash consideration of $450 million. The divestiture represents a complete country […]

Sharara Oilfield Resumes Production; NOC to Sue

By John Lee. The National Oil Corporation (NOC) confirmed on Monday that production at the Sharara oil field has resumed following 24-hour suspension. The stoppage caused half a million barrels of production to be lost, at an estimated cost of $30 million. Hassan Mohamed al-Hadi, a landowner in the western Zintan area, told Reuters: “I […]