https://arab.news/je4uv
RIYADH: French company TotalEnergies and US-based ConocoPhillips will announce their acquisition of the US Hess Co. assets in oasis fields, during an event in Libya on Monday, Asharq Alawsat reported citing sources familiar with the matter.
No further details of the deal were given, but it is known that Hess Co. owns 8.16 percent of Libya's Waha Oil Company.
Total owns about 16.33 percent of the Tripoli-based company's concessions, after acquiring the US Marathon Oil share in 2018, giving it a greater stake in strategic oil fields.
The Libya Energy Summit, which will begin on Monday and last for two days in Tripoli, aims to create an attractive investment environment to increase the contribution of foreign partners to the Libyan market.
During the summit, a road map for the future of Libya's oil and gas sector is expected to be announced the sources added.