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NOC withholds Total stake in Al Waha oil field

The National Oil Corporation (NOC) is withholding French company Total’s stake in Al-Waha oil concession.

A source from NOC told Reuters, the company is withholding the company’s stake due to a dispute over the company’s purchase of American Marathon’s Oil stake in the concession two months ago.

The source pointed out that the shipments of Marathon has been sold since the beginning of the year to the company Vitol for oil trading through the National Oil Corporation.

Total did not receive its share of oil shipments from Al-Waha field, according to Reuters, saying it was not clear if the ownership of Al-Waha concession had been transferred from Marathon to Total.

 

The National Oil Corporation objected to the sale of the company’s, Marathon, share of the field of Al-Waha to Total without the knowledge of the NOC.

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