ConocoPhillips and Total ask for doubled profit to invest more in Al-Waha fields - Libya Al-ahraar

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ConocoPhillips and Total ask for doubled profit to invest more in Al-Waha fields - Libya Al-ahraar

France’s Total Energy company and the United States’ ConocoPhillips: the two foreign partners of the National Oil Corporation (NOC) in the Waha Oil Company fields, requested an increase of their profit margin from 6.5% to 13% within their share of production – an equivalent to 40.83%. They also said this would be tied to extending the validity of their contracts signed with the NOC to 2046. This increase is required by the companies in exchange …