Page 6 - AfrOil Week 46 2022

AfrOil INVESTMENT AfrOil

TotalEnergies, ConocoPhillips acquire

Hess’ share in Waha concessions in Libya

LIBYA TOTALENERGIES (France) and ConocoPhil- Misrata. This facility will have an installed gen-
lips (US) have completed the joint acquisition of erating capacity of 500 MW, it reported.
an 8.16% equity stake in the Waha concessions Pouyanné expressed satisfaction with the
in Libya from the US independent company expansion of his company’s portfolio in Libya on
Hess. November 15. “With nearly 70 years of presence
The French major confirmed the completion in the country, TotalEnergies is firmly commit-
of the transaction in a statement on November ted to working alongside Libya’s National Oil
15. As a result of the deal, it said its own holdings Corp. to develop the Waha fields, provide its
in the Waha concessions had risen from 16.33% expertise in reducing gas flaring and support the
to 20.41%. country in its energy transition with the devel-
TotalEnergies did not comment on the value opment of solar energy projects,” he said. ™
or terms of the acquisition. However, it did say
that the deal demonstrated its commitment to
supporting the efforts of National Oil Corp.
(NOC), Libya’s state-owned oil and gas concern,
to increase production and restore the petro-
leum industry. It also said it intended to work
with NOC to develop dedicated solar energy
projects to support the operation of oil develop-
ment operations at the Waha sites.
The French major had said in November
2021, when Libya’s Government of National
Unity (GNU) authorised Hess’ sale of its 8.16%
stake, that it intended to pump $2bn into the
Waha concessions. Patrick Pouyanné, TotalEn-
ergies’ chairman and CEO, said at the time that
the project would boost yields at the Mabruk
field in central Libya, thereby raising the North
African country’s total crude oil output by
100,000 barrels per day (bpd).
To this end, it noted, TotalEnergies has also
reached agreement with General Electricity Co.
of Libya (GECOL), one of its local partners, on
the location and commercial terms for con-
struction of a new solar farm south of the city of TotalEnergies said it will spend $2bn on the Waha oilfields (Photo: TotalEnergies)

Mozambique’s sixth licensing round

attracts six bids from Eni and CNOOC

MOZAMBIQUE MOZAMBIQUE’S sixth licensing round has final day of the licensing round, the institute
attracted a total of six bids, with Italy’s Eni sub- noted that Eni had submitted one bid for A6-C,
mitting an offer for one offshore block in the located in the Angoche basin. It also reported
Angoche basin and China National Offshore that CNOOC International, a subsidiary of
Operating Corp. (CNOOC) making offers for state-owned CNOOC, had submitted bids for
a total of five blocks in the Angoche and Save S6-A and S-6B in the heretofore unexplored
basins, the National Petroleum Institute (INP) Save basin located offshore Inhambane Prov-
has said. ince, as well as A6-D, A6-E and A6-G in the
In a statement released on November 11, the Angoche basin.

P6 www. NEWSBASE .com Week 46 17•November•2022