By Ejekwu Chidiebere
TotalEnergies has told Energy Window International (Media) in an email that, on January 24th, during the Libya Energy & Economy Summit in Tripoli, Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies signed an agreement extending the Waha Concessions up to December 31, 2050, in the presence of Abdul Hamid Dbeiba, Prime Minister of the Government of National Unity.
According to the statement, the agreement sets new fiscal terms allowing increase in the production of these concessions that are currently producing around 370,000 barrels of oil equivalent per day (boe/d), thereby paving the way, the French major says, for a new phase of investments, including the development of the North Gialo field, which it said would be adding 100,000 boe/d of production.
Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies said: “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), Present in the country since 1956, 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 says it has started operating in Libya since 1956, disclosing that its production in the country in 2025 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%). Adding that 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.