Total buys 16.33% in Libya's Waha for US$450m from Marathon
Total has agreed to acquire Marathon Oil Libya Limited from Marathon Oil. The deal centres around Marathon's sole asset: 16.33% of the Waha concessions in northern Libya. Waha has produced for decades, but in recent years has produced far below capacity. This is primarily due to a lack of investment pre-civil war, the civil war itself which has caused production at most fields to shut-in since 2011.