Thursday, November 25, 2021

TotalEnergies sign agreements for solar energy production in Libya
Photo Credit To Energy Capital & Power

TotalEnergies sign agreements for solar energy production in Libya

Two agreements for solar energy production in Libya have been signed between the government of Libya and TotalEnergies SE, a French, multinational, integrated broad energy company and one of the six largest oil and gas companies in the world.

The agreements were signed during the occasion of the inaugural day of the Libya Energy & Economic summit 2021, TotalEnergies said in a statement on Tuesday.

As per the first agreement, signed with the government of national unity, TotalEnergies will work on the development of solar projects in the North African country, and it will invest in projects reducing gas flaring in oil fields in order to supply gas to power plants.

The second agreement, signed between the French energy company represented by its CEO, Patrick Pouyanné, and the General Electricity Company of Libya (GECOL) aims to develop 500 MW of solar energy, intended to supply the national grid.

Additionally, the Government of National Unity approved the joint acquisition by TotalEnergies and ConocoPhillips of the 8.16% interest held by Hess in the Waha concessions, which will increase TotalEnergies’ interest in these concessions from 16.33% to 20.41%. During the conference, TotalEnergies thus confirmed its willingness:

  • to develop the production capacity of the Waha concessions, notably the 100 kbpd North Gialo project, representing a $2 billion investment,
  • to invest in gas gathering projects to reduce flaring and supply power plants in the region and using solar energy to power Waha’s industrial facilities.

TotalEnergies has been present in Libya since 1954. In 2020, the Company’s production was 43,000 boe/d. This production comes from the offshore Al Jurf field (TotalEnergies, 37.5%), the El Sharara onshore area (TotalEnergies, 15% on block ex-NC 115 and 12% on Block ex-NC 186) and the Waha fields (TotalEnergies, 20.41%, after the joint acquisition of Hess interest), according to the French company.