TotalEnergies Extends Waha Oil Concessions in Libya Until 2050

The French group signed an agreement with Libyan authorities to extend its operating rights on the Waha concessions. The deal paves the way for new investments and the development of the North Gialo field.

January 26, 2026 Rudy Vervant

Countries	France, Libye
Companies	TotalEnergies, National Oil Corporation, ConocoPhillips
Sector	Pétrole
Theme	Investissements & Transactions

TotalEnergies concluded an agreement extending the Waha concessions until December 31, 2050. The signing took place during the Libya Energy & Economy Summit in Tripoli, in the presence of Abdul Hamid Dbeiba, Prime Minister of the Government of National Unity. Patrick Pouyanné, Chairman and Chief Executive Officer of the group, signed the document alongside Libyan officials.

Renegotiated Fiscal Terms

The agreement establishes new fiscal terms aimed at increasing production from the concessions, according to TotalEnergies. These currently produce around 370,000 barrels of oil equivalent per day (boe/d), based on data disclosed by the company. The group indicates this agreement would enable a new phase of investments.

The development of the North Gialo field constitutes the main project targeted by this extension. TotalEnergies states this deposit would add 100,000 boe/d to production. The company emphasizes that the Waha concessions offer low-cost and low-emission resources.

A Historic 70-Year Presence

The French group celebrates 70 years of presence in Libya, where it has operated since 1956. In 2025, its production in the country averaged 113,000 boe/d, according to its own figures. This production comes from several assets: the offshore Al Jurf field, where TotalEnergies holds 37.5%, the onshore El Sharara area with 15% in former Block NC 115 and 12% in former Block NC 186, as well as the Waha concessions.

Concessions Shareholding Structure

The Waha concessions are held by the National Oil Corporation (NOC) at 59.16%, TotalEnergies with 20.42%, and ConocoPhillips also with 20.42%. The operator is Waha Oil Company (WOC), a subsidiary 100% owned by NOC. Patrick Pouyanné thanked Libyan authorities, notably Khalifa Rajab Abdulsadek, Minister of Oil and Gas, and Masoud Suleman, Chairman of NOC.

This extension secures TotalEnergies’ position in Libya for the next 25 years. It comes at a time when oil majors seek to consolidate their assets in areas with competitive production costs. The realization of announced investments will depend on the country’s political and security stability.