Total Company agreed with Marathon Oil Company to buy its share which is more than 16 percent of Waha field concession in Libya.
The value of the deal is four hundred and fifty million dollars.
The Chairman of Total Company said that this deal is in line with Total’s strategy to strengthen its high-quality portfolio in the Middle East and North Africa region as Libya has significant oil and gas resources.
Waha field currently produces about 300,000 barrels of oil a day.
