Share Name Share Symbol Market Type
Total SA EU:FP Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.285 -0.58% 48.505 48.45 48.70 49.06 48.35 48.80 5,055,368 16:39:37

Total Details Plans to Develop Waha Concessions in Libya

10/12/2019 4:43pm

Dow Jones News

Total (EU:FP)
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By Carlo Martuscelli


Total S.A. (FP.FR) said Tuesday that it has signed an agreement with Libya's state-owned National Oil Corporation to develop the Waha concessions.

The French energy major said that it will help NOC develop the North Gialo and NC 98 fields which are projected to contribute an additional 180,000 barrels of oil equivalent per day. Under the terms of the agreement, Total will provide $70 million of financing up front, as well as $30 million for each field that comes on stream.

Total also said it will carry out economic development programs amounting to $20 million over a period of four years. The company acquired a 16.33% working interest in the Waha concessions in March 2018.


Write to Carlo Martuscelli at; @carlomartu


(END) Dow Jones Newswires

December 10, 2019 11:28 ET (16:28 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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