During the Libya Energy & Economy Summit held in Tripoli on January 24, TotalEnergies formalised an agreement to extend the Waha oil concessions until December 31, 2050. The agreement was signed by Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, in the presence of Abdul Hamid Dbeiba, Prime Minister of Libya’s Government of National Unity.
The revised concession framework introduces updated fiscal terms designed to support higher production levels from the Waha assets, which currently produce approximately 370,000 barrels of oil equivalent per day. The extension creates the foundation for a new phase of capital investment, including development of the North Gialo field, which is expected to add around 100,000 barrels of oil equivalent per day to output.
TotalEnergies has maintained a continuous presence in Libya since 1956. In 2025, the company’s average production in the country stood at 113,000 barrels of oil equivalent per day, sourced from the offshore Al Jurf field, the onshore 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 (NOC). Ownership of the concessions is shared between NOC, TotalEnergies, and ConocoPhillips.
The Waha extension aligns with TotalEnergies’ broader strategy of investing in large-scale, long-life resources with competitive costs and comparatively low emissions. The agreement reinforces the company’s long-term commitment to Libya’s energy sector and its collaboration with national partners to support production growth and economic development.
TotalEnergies is a global, integrated energy company engaged in the production and supply of oil and biofuels, natural gas and biogas, low-carbon hydrogen, renewable energy, and electricity. With more than 100,000 employees worldwide and operations in approximately 120 countries, the company aims to deliver energy that is reliable, affordable, and increasingly sustainable, while embedding sustainability across its strategy and activities.
