French oil giant Total reported that it had informed the Libyan authorities in advance of plans to acquire Marathon Oil’s stake in the Al Waha oilfield for $ 450 million.
A spokesperson for the French company told Reuters on Wednesday, the company is currently in talks with the National Oil Corporation (NOC) of Libya; “in order to provide necessary assurances to develop the Al Waha field,” stressing that the agreement with the Marathon is final, and Total has its stake in Libya.
The National Oil Corporation (NOC) confirmed on Monday that Marathon Oil had not received the Corporation’s approval to sell its stake in the Al Waha oil field to Total.