TotalEnergies has completed the joint acquisition with ConocoPhillips of the 8.16% interest held by Hess in the Waha concessions, in Libya. As a result of this transaction, TotalEnergies\u2019 interest in these concessions is increased from 16.33% to 20.41%.<\/p>\n
According to TotalEnergies this acquisition reflects the company\u2019s commitment to support Libya\u2019s National Oil Corporation (NOC) in its efforts to restore and increase the country\u2019s oil production, together with reducing gas flaring to increase supply to power plants for additional electricity supply. \u00a0TotalEnergies and the NOC are also studying the development of dedicated solar projects to supply electricity to Waha production sites.<\/p>\n
In parallel, and in order to increase the country\u2019s renewable electricity supply, TotalEnergies has finalized with its partner Gecol the location and commercial terms to launch a 500 MWp solar plant project South of Misrata.<\/p>\n
\u201cWith nearly 70 years of presence in the country, TotalEnergies is firmly committed to working alongside Libya\u2019s National Oil Corporation to develop the Waha fields, provide its expertise in reducing gas flaring and support the country in its energy transition with the development of solar energy projects,\u201d said\u00a0Patrick Pouyann\u00e9, Chairman and Chief Executive Officer of TotalEnergies.<\/p>\n","protected":false},"excerpt":{"rendered":"