TotalEnergies Secures Long-Term Extension of Waha Concessions and Advances New Investment Phase

TotalEnergies Secures Long-Term Extension of Waha Concessions and Advances New Investment Phase

(IN BRIEF) TotalEnergies has signed an agreement extending the Waha oil concessions in Libya until the end of 2050, establishing new fiscal terms that support increased production and future investment. Signed during the Libya Energy & Economy Summit in Tripoli, the agreement enables a new development phase, including the North Gialo field, which is expected to add around 100,000 barrels of oil equivalent per day to current output of approximately 370,000 boe/d. Building on nearly seven decades of operations in Libya, the extension strengthens TotalEnergies’ long-term commitment to the country and supports continued collaboration with the National Oil Corporation and other partners.

(PRESS RELEASE) PARIS, 26-Jan-2026 — /EuropaWire/ — TotalEnergies has reached a landmark agreement with Libyan authorities to extend the Waha oil concessions until 31 December 2050, reinforcing the company’s long-standing presence in the country and opening the door to increased production and new investments. The agreement was signed on 24 January during the Libya Energy & Economy Summit in Tripoli 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 introduces updated fiscal terms designed to support higher production levels at the Waha concessions, which currently produce approximately 370,000 barrels of oil equivalent per day. The revised framework enables a new phase of development, including the planned development of the North Gialo field. This project is expected to contribute an additional 100,000 barrels of oil equivalent per day, strengthening Libya’s oil output while supporting long-term operational stability at Waha.

The agreement builds on TotalEnergies’ deep-rooted history in Libya, where the company has operated continuously since 1956. The Waha concessions are regarded as large-scale, low-cost assets with comparatively low emissions, offering significant opportunities for production growth aligned with TotalEnergies’ broader energy strategy. The company has emphasized its intention to work closely with Libyan partners to advance these developments, beginning with North Gialo.

In 2025, TotalEnergies’ average production in Libya reached 113,000 barrels of oil equivalent per day. This output is derived from a diversified portfolio that includes the offshore Al Jurf field, onshore assets in the El Sharara area, and the Waha concessions. The Waha assets are operated by Waha Oil Company, which is fully owned by Libya’s National Oil Corporation, with ownership shared between NOC, TotalEnergies, and ConocoPhillips.

Through the extension of the Waha concessions, TotalEnergies is positioning itself for sustained involvement in Libya’s energy sector while supporting production growth, investment continuity, and long-term collaboration with national partners.

TotalEnergies in Libya

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 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.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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SOURCE: TotalEnergies