Tag Archives | Hess

Total to Invest $650m in Waha Field

By John Lee. Tbe National Oil Corporation (NOC) has announced its approval of Total’s acquisition of Marathon Oil Libya Limited (MOLL)'s stake in the Waha concessions, which represents 16.33 percent of the concessions. According to NOC, Total has committed to invest 650 million USD to the development of the Waha concessions and to ramp up […]

GNA to examine Total-Marathon Deal

By John Lee. According to a report from Reuters, Libya is considering whether to intervene in Total's $450-million deal to buy Marathon Oil’s stake in the Waha oil field. Officials told the news agency that the National Oil Corporation (NOC) may be interested in buying the 16.33-percent stake, possibly with funds from Libya’s $67-billion sovereign wealth […]

Clashes hit Libya's Crude Oil Output

By John Lee. According to a report from Bloomberg, Libya’s crude output has fallen 11 percent as clashes over the past 10 days have led to the closing of some oil export terminals. It claims that production is down from about 700,000 barrels per day (bpd) to around 620,000 bpd as Es Sider, the country’s […]

‘Global interest in Libya Oil & Gas’ – NOC Chairman

Global Summits Organiser, IRN, recently held the 4th New Libya Oil & Gas Forum at the Tower Hotel in London on 19-21st October 2015. Hosted with the exclusive support of the National Oil Corporation (NOC Libya), the high-level meeting attracted more than 200 international oil and gas companies as well as a high level Libyan […]

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Waha Oil to Rent Bulayla Tower

The Waha Oil Company is expected to finalise a LD 70-million, 10-year, lease agreement by the end of the month for the taller of the two Bulayla Towers in Tripoli, according to a report from Libya Herald. The 34-story building is owned by Datamon Company for Real Estate Investments, and comes with its own helicopter […]

Waha Oilfield Resumes Operations

Libya has resulted normal operations had resumed at Waha oilfield. A spokesman for the state-owned National Oil Corporation (NOC) told The Wall Street Journal, that operations resumed at the giant field on Monday. Waha, which normally produces 160,000 bpd, supplies crude to the Es Sider terminal, which restarted exports using stored oil last week. The […]

Hess Forecasts "Low End of the Guidance Range"

Hess Corp reports that its oil and gas production of 310,000 barrels of oil equivalent per day (boepd) in the third quarter was down from 402,000 boepd in the third quarter a year ago. The decrease was due to asset sales in Russia, the United Kingdom North Sea and Azerbaijan (reduction of 83,000 boepd), extended […]


NOC Interested in Marathon Oil Stake

Libya's National Oil Corporation (NOC) is interested in buying Marathon Oil's stake in the Waha Oil Company, reports Reuters. Oil and Gas Minister Dr. Abdulbari Alarusi [Al Arusi] (pictured) told a conference in London that Libya would discuss a potential deal with Marathon, although other firms were also interested. In the first quarter, production from Libya […]