The Administrative Control Authority, stressed in its letter to the Prime Minister of the National Unity Government, Abdul Hamid Dbeibeh, the need to stop any procedures related to the completion of the sale of the French Total Energies stake until the authority finishes following up and fully evaluating this file.

The authority explained that it had followed up and evaluated the file of the American Hess Holdings waiving its right of the Waha Oil Company concession contracts, amounting to 8.1667%, estimated at 300 million, in favor of Total Energies and ConocoPhillips Company, according to memorandums and correspondence submitted by the Ministry of Oil and Gas. It concluded that many of the the technical, financial and legal observations characterized the procedures for approving the sale of the stake, and resulted in the Cabinet Decree N° 552 of 2021. The last was also observed by the authority, which emphasized in its recommendations the necessity of acquiring the stake for the benefit of the Libyan state because of the investment returns it represents.

It pointed out that, with consideration of this dispute between the Ministry of Oil and the Council of Ministers about whether or not to sell the aforementioned share in favor of Total Energies, and because of the serious damages that may result from selling tise stake that might affect the capabilities and interests of Libyan people, the Authority addressed the Council of Ministers to stop selling the company’s share.