Libya’s Waha: Hess Confirms Total, Conoco Each Paid $75mn For Stakes

US independent Hess, in its Q4 filings on 25 January, confirmed the net receipt of $150mn for the 8.16% stake in Libya’s 300,000 b/d Waha concession that it sold to TotalEnergies and ConocoPhillips in November last year (MEES, 18 November).

The deal saw Total and Conoco each expand their Waha stakes from 16.33% to 20.41%, with the remaining 59.18% held by state firm National Oil Corporation (NOC). (CONTINUED - 255 WORDS)