TotalEnergies Extends Libya’s Waha Concessions to 2050, Plans Major Production Boost
TotalEnergies has signed a landmark agreement extending the Waha Concessions in Libya until December 31, 2050, paving the way for significant new investments and a substantial production increase. The agreement was signed on January 24th by Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, in the presence of Abdul Hamid Dbeiba, Prime Minister of the Government of National Unity.
The extension agreement sets new fiscal terms that will allow increased production from these concessions, which are currently producing around 370,000 barrels of oil equivalent per day. The new phase of investments includes the development of the North Gialo field, which is expected to add 100,000 barrels of oil equivalent per day of production.
As the company celebrates 70 years of presence in Libya, Pouyanné expressed gratitude to the Libyan authorities for their continued support, specifically acknowledging Dr. Khalifa Rajab Abdulsadek, Minister of Oil and Gas of Libya, and Masoud Suleman, Chairman of the National Oil Corporation. Present in the country since 1956, TotalEnergies reaffirmed its long-standing commitment to working alongside its partners to increase Waha’s production, starting with the development of the North Gialo field.
Pouyanné noted that extending the Waha concession, with its low cost and low emission giant resources offering many opportunities to grow production, fits perfectly with the company’s strategy. In 2025, TotalEnergies’ production in Libya averaged 113,000 barrels of oil equivalent per day from the offshore Al Jurf field, the onshore El Sharara area, and the onshore Waha concessions.
The Waha concessions are held by the National Oil Corporation with 59.16%, TotalEnergies with 20.42%, and ConocoPhillips with 20.42%, and are operated by Waha Oil Company, a company wholly owned by NOC.
Source: energy-pedia.com
