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TotalEnergies has signed an agreement extending the Libya Waha Concessions up to December 31, 2050, paving the way for further investments and strengthening TotalEnergies’ presence in the country

The Waha concessions are held by NOC (59.16%), TotalEnergies (20.42%) and ConocoPhillips (20.42%) and are operated by Waha Oil Company (WOC), a company 100% owned by NOC.

This agreement sets new fiscal terms allowing to increase the production of these concessions, currently producing around 370,000 barrels of oil equivalent per day (boe/d). It clears the way for a new phase of investments, including the development of the North Gialo field, which is expected to add 100,000 boe/d of production.

“As we celebrate 70 years of presence in Libya, we are pleased to sign this agreement, and I would like to thank the Libyan authorities for their continued support, in particular Dr. Khalifa Rajab Abdulsadek, Minister of Oil and Gas of Libya and Masoud Suleman, chairman of the National Oil Corporation (NOC),” said Patrick Pouyanné, chairman and chief executive officer of TotalEnergies.

“TotalEnergies reaffirms its long-standing commitment to working alongside its partners to increase Waha’s production, starting with the development of the North Gialo field. Extending the Waha concession, with its low cost and low emission giant resources offering many opportunities to grow production, fits perfectly with our strategy.”

TotalEnergies has been present in Libya since 1956. In 2025, the company’s production in the country averaged 113,000 barrels of oil equivalent per day, from the offshore Al Jurf field (TotalEnergies 37.5%), the onshore El Sharara area (TotalEnergies 15% in former Block NC 115 and 12% in former Block NC 186), and the onshore Waha concessions (TotalEnergies 20.42%).

The agreement was signed during the Libya Energy & Economy Summit in Tripoli, where NOC chairman Engineer Masoud Suleman emphasised the substantial progress Libya has made in oil and gas production. He pointed out that this advancement occurred despite the ongoing challenges, particularly global price volatility. According to NOC figures, Libya recorded the highest average production rate in 2025 in comparison to the last decade, at 1.374mn bpd, with total crude oil production for the year reaching 501mn barrels.

Eng. Suleman noted that the NOC’s strategy targets an initial production increase to 1.6mn bpd, with a subsequent goal of reaching 2 million barrels per day in the medium term.

Majors have shown increased interest in Libya, with TotalEnergies amongst those actively pursuing exploration and production opportunities. Libya’s latest upstream licensing round launched in March 2025, the first in 18 years, has attracted more than 40 bids, signalling growing international interest in Libya’s largely untapped hydrocarbon potential.

SLB has been awarded two five-year contracts by Petroleum Development Oman (PDO) to supply wellheads and artificial lift technologies for operations in Block-6, Oman’s largest oil and gas concession which contains over 75% of Oman's remaining crude oil reserves

The contracts include the provision of low-pressure, high-pressure, and thermal wellheads, as well as electric submersible pumps (ESPs) and progressive cavity pumps (PCPs). These solutions are expected to increase recovery rates and extend the productive life of Block-6 assets. The contracts will involve expanding local manufacturing capabilities and introducing made-in-Oman gate valve production within six months of commencement.

Wellheads will be produced at SLB’s Rusayl production centre, and ESPs will be assembled at its Nizwa assembly, repair, and testing centre, supporting hundreds of Omani employees. SLB will deploy advanced technologies including the 15k SOLIDrill modular compact wellhead system, ESP surveillance systems, and ESP permanent magnet motors, which reduce power consumption and enhance sustainability.

The contracts align with PDO’s ICV programme, which is a strong priority for PDO and supports the country’s industrial diversification under Oman Vision 2040. It has played a vital role in expanding local manufacturing capabilities, strengthening local supply chains, upskilling the workforce and creating jobs for Omani nationals.

“These awards reflect our deep commitment to Oman’s energy future and advancing in-country value through local manufacturing and talent development,” said Jesus Lamas, president, Middle East and North Africa, SLB. “By producing more equipment in country and investing in Omani expertise, we are ensuring that PDO’s strategic goals are met with sustainable, locally driven approaches. Our focus is on delivering innovative wellhead and artificial lift solutions that drive production efficiency and maximise recovery. Through our ongoing investment in advanced technologies and tailored services, we support our customers’ production and recovery goals with capabilities designed to meet their evolving operational needs.”

Middle East and Asia is a core region for SLB’s business, accounting for US$12,218mn of its total US$35,708mn total revenues in 2025. In 2025, SLB reported higher activity in Oman along with East Asia, Iraq, United Arab Emirates, and India. Strong fourth quarter performance in the Middle East and Asia saw fourth quarter revenue increasing sequentially by 8% in the region due to higher offshore activity and strong year-end product and digital sales. The company is optimistic about prospects in the region in 2026.

“As we move into 2026, we believe that the headwinds we experienced in key regions in 2025 are behind us. In particular, we expect rig activity in the Middle East to increase compared to today’s level, and our footprint in the region puts us in a strong position to benefit from this recovery,” SLB CEO Olivier Le Peuch said.

As the Uganda National Oil Company aims to build a crude refinery, it has reached out to a unit of global commodities trader, Vitol, for a US$2bn loan to support the project alongside construction and infrastructure developments

According to Henry Musasizi, Uganda's junior finance minister, this seven-year tenor loan from Vitol Bahrain EC (VBA) comes with an interest rate of 4.92%. The minister worked on advancing the approval process for the credit line and the loan, which involved significant lawmakers, who sanctioned the development with a majority verdict.

Musasizi said that Vitol's support "presents an opportunity to access non-traditional financing to implement. ..projects and support the government in developing national infrastructure."  

Vitol Bahrain EC has a long-standing presence in Uganda's downstream sector, functioning as the sole supplier of refined petroleum products to UNOC, before the state-owned company sells it to retailers across the country.

Alongside the refinery, the loan amount will also be covering road construction, a petroleum products storage terminal and extension of a petroleum pipeline from western Kenya to Uganda's capital Kampala.

Previously, the UNOC also concluded a deal with the UAE-based Alpha MBM Investments, whereby a domestic refinery with a capacity of 60,000 barrels per day is in the pipeline. The agreement accords 60% stake on the refinery to the UAE firm while UNOC retains 40%.

Uganda is looking to begin commercial oil generation starting next year from fields in its west.

Across the Middle East, oil and gas operators are acquiring larger, denser and more complex seismic datasets to unlock increasingly subtle geological targets

But as data volumes grow into the hundreds of billions of traces, the real challenge is no longer just acquisition. It is how quickly and confidently those datasets can be turned into actionable insight.

When growing data volumes are coupled with modern processing and imaging algorithms, such as elastic multi-parameter full waveform inversion, and the continued rise of artificial intelligence (AI) based workflows, the result is that high performance computing (HPC) systems are being pushed harder than ever. This of course intensifies demands on power, cooling and scalability. For energy giants, a key challenge is ensuring their HPC infrastructure remains fit-for-purpose to keep pace with modern geoscience.

Global technology company DUG is known for its state-of-the-art software and its network of some of the largest supercomputers on Earth. Against a constantly evolving hardware landscape, the Australian-born company is keeping its edge with the deployment of 82 new NVIDIA H200 machines, adding 41 petaflops of compute power to its global data-centre capacity. Each machine delivers an order-of-magnitude performance uplift over DUG’s fastest CPU-only hardware, further reducing the company’s turnaround times across both testing and production workflows.

The operational realities of a modern HPC facility also present significant opportunities for reducing both cost and environmental footprint. One way that DUG has maximised the energy efficiency of its HPC ecosystem is through the use of immersion cooling – where servers are submerged directly into a fluid that removes heat far more effectively than air. The technology supports significantly higher compute density, reduces power consumption and creates a stable environment without hot spots, dust or oxidation. Immersion allows operation at higher temperatures compared to air-cooling, thereby also reducing reliance on evaporative cooling, allowing hybrid or dry-cooling configurations that lower water use. This ultimately makes efficiency and sustainability part of the same design.

“Our data-centre upgrade significantly increases our total compute power,” said Harry McHugh, chief information officer at DUG. “This translates to even faster delivery of huge datasets and more computationally intensive workloads, from AI-inference applications, to advanced seismic processing and imaging workflows, including our revolutionary DUG Elastic MP-FWI Imaging technology”,

“Designing and operating at this scale gives us intimate knowledge of what modern HPC demands in practice – and this expertise drives the solutions we build and operate for our clients.”

With its new Abu Dhabi office supporting large-scale projects across the region, and a technology stack built around energy-efficient HPC and advanced imaging algorithms, DUG is primed to power the next wave of discovery in the Middle East, delivering faster, clearer and more reliable subsurface insights.

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The fossil-fuel sector offers the largest and most cost-effective opportunity for rapid methane abatement, according to the newly released Global Methane Status Report, launched on the sidelines of COP30 in Belém

Produced by the UN Environment Programme (UNEP) and the Climate and Clean Air Coalition (CCAC), the Global Methane Status Report assesses progress and remaining gaps in efforts to cut methane - a potent greenhouse gas responsible for nearly a third of current warming.

The report shows that although methane emissions are still rising, projected 2030 emissions under current legislation are already lower than earlier forecasts due to a mix of national policies, sectoral regulations, and market shifts. However, the report warns that only full-scale implementation of proven and available control measures will close the gap to the Global Methane Pledge’s target of a 30% cut from 2020 levels by 2030.

Urging decisive methane action to deliver the Global Methane Pledge, ministers attending the Global Methane Pledge Ministerial stressed that the policies, technologies, and partnerships needed to meet the target are available, but require rapid scale-up across the energy, agriculture, and waste sectors. Ministers also called for increased transparency from countries on ambition and action to track progress.

Julie Dabrusin, Canada’s Minister of Environment and Climate Change and Co-Convener of the Global Methane Pledge, said, “This report is a crucial assessment of our progress and a key indicator of the work that’s required to meet the Global Methane Pledge goal. In just four years, we have made improvements, but we must continue to drive faster, deeper methane cuts. Every tonne reduced brings us closer to cleaner air, more resilient communities, and a thriving global economy. It is important for all countries that have agreed to the Global Methane Pledge to continue to work closely together to drive momentum on methane mitigation, turning ambition into tangible benefits for the planet.”

The fossil-fuel sector is the second largest source of anthropogenic methane emissions, responsible for approximately one third of the global total. Under current legislation, emissions from the sector are expected to rise by 8% in 2050 compared to 2020. This sector presents the single greatest potential for rapid, cost-effective methane abatement, according to the report. These reductions could be achieved through readily available technologies and practices, often at low cost.

Since the launch of the GMP, methane abatement policies in the oil and gas sector have become more innovative and widespread, while voluntary initiatives such as the Oil and Gas Methane Partnership (OGMP) 2.0 now cover up to 45% of global oil and gas production.

The rate of policy development and country participation, however, still fall short of what is needed to achieve the 2030 targets. Implementation and enforcement must also be strengthened.

The recent adoption of novel approaches, such as the European Union import standard, offers the potential to use the market to mitigate methane in oil and gas sector more rapidly at the global scale.

Bridging the methane policy gap in the fossil fuel sector calls for strong implementation of existing policies, continuous capacity building, increased ambition from additional producing countries, ramped up technical support and innovative financial mechanisms to facilitate mitigation in developing countries.

Key measures recommended include:

• enhancing monitoring, reporting and verification (MRV) systems across all fossil fuel operations
• expanding the use of direct measurement protocols and corroborated satellite data which could improve the accuracy and transparency of inventories
• expanding leak detection and repair (LDAR) programmes in oil and gas, which not only help reduce leaks but also enhance data quality for inventories and enhance workplace safety and asset integrity;
• ensuring proper sealing techniques during well closure, given methane emissions from abandoned wells can continue for decades after activities cease;
• strengthening enforcement mechanisms with the establishment of clear accountability structures, penalties for non-compliance and independent oversight;
• facilitating access to finance and capacity building;
• harnessing import standards as market leverage, creating a clear incentive for producing countries to adopt stronger mitigation practices; and
• leveraging international and bilateral frameworks for capacity and alignment.