Libya

  • Assets

Marathon Oil is a member of the Waha Group, which acquired exploration and production rights in Libya in the mid-1950s. Marathon Oil and ConocoPhillips each hold a 16.33 percent working interest in the Waha Concessions, Hess Corporation an 8.2 percent working interest and the Libyan National Oil Corporation (NOC) holds a 59.2 percent working interest. The Libya Waha Group is the operator.

The Concessions encompass almost 13 million gross acres in the Sirte Basin. This basin is one of the most prolific oil and natural gas producing areas of Libya, containing sizable undeveloped oil and natural gas resources.