TotalEnergies raises stake in Libya’s Waha concessions

France’s TotalEnergies and ConocoPhillips have completed the joint acquisition of Hess’ 8.2 per cent stake in Libya’s Waha concessions.

This takes TotalEnergies’ interest in the concessions to 20.41 per cent from 16.33 per cent, the company said in a statement on Tuesday.

TotalEnergies, which has been operating in Libya since 1954, first acquired the stake from Marathon Oil in 2018, giving it access to reserves and resources in excess of…