Libya’s National Oil Corporation (NOC) and French oil form Total Energies have signed a $20 million agreement to implement sustainable development projects in the oil areas where the French energy company is active, NOC announced on Friday.
The agreement was signed by NOC Chairman Mustafa Sanalla and Head of Total’s office in Libya, Pascal Breant, during a ceremony in NOC headquarters in Tripoli.
“This agreement comes as one of Total’s requirements to acquire Marathon Oil Libya Limited’s shares in the Waha concession, which took place two years ago,” said Sanalla, noting that Total is a strategic partner for Libyan oil exports.
“We will try to benefit from these 20 million dollars for the good of all of Libya’s regions and to bring real development within them,” added Sanalla.