TotalEnergies signs deal to extend Libya Waha concessions

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.