In Waha, Libya, TotalEnergies is finalizing the joint acquisition with ConocoPhillips of the 8.16% interest held by Hess.
Increased production
In Waha, TotalEnergies is increasing its stake in the concessions from 16.33% to 20.41%. This acquisition reflects TotalEnergies’ commitment to support the Libyan National Oil Corporation (NOC). Indeed, the Libyan company continues its efforts to restore and increase the country’s oil production.
The National Oil Corporation is also looking to reduce the use of gas flaring. Thus, the objective is to increase the supply of power plants for additional electricity supply. In addition, TotalEnergies and the NOC are also studying the development of solar projects to power the Waha sites.
An international major
In addition, TotalEnergies is finalizing the location of a solar power plant project with its partner Gecol. The project would be located south of Misrata and would have a capacity of 500MWp. Patrick Pouyanné, Chairman and CEO of TotalEnergies, said:
“With nearly 70 years of presence in the country, TotalEnergies is firmly committed to working alongside the Libyan National Oil Corporation to develop the Waha fields, provide its expertise in reducing gas flaring and support the country in its energy transition with the development of solar energy projects.”
TotalEnergies would produce in 2020, approximately 84,000 boe/d from the offshore Al Jurf field. The company also has assets in the onshore area of El Sharara. Finally, TotalEnergies is present in over 130 countries.
