Oil Major Total expands in Libya, Buys Marathon's Waha Stake For $450 Million

French energy company Total substantially raised its presence in Libya with the purchase of a 16.33 percent stake in Libya’s Waha concessions from U.S. Marathon Oil for $450 million. Total has been in Libya for decades and holds a production share of 31,500 boe/d in 2017 from concessions in the offshore Al Jurf field and the onshore Sharara field.

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I'm sure the reward is great, but the risks seem particularly great as well. There is a Libya shutdown every time I turn around.

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