TotalEnergies Secures Waha Concession Extension to 2050—New Investments Target 100,000 Additional boe/d in Libya
Extension Sets Stage for Significant Production Growth
TotalEnergies announced the extension of its Waha Concessions in Libya until December 31, 2050, marking a strategic milestone for the company’s operations in the region. The agreement, signed by Chairman and CEO Patrick Pouyanné during the Libya Energy & Economy Summit in Tripoli, aims to spur investment and boost production in a partnership with Libya’s National Oil Corporation and ConocoPhillips.
Focus on North Gialo Field: 100,000 Barrels per Day Production Boost Expected
With the new fiscal terms secured, the Waha Concessions—currently delivering approximately 370,000 barrels of oil equivalent per day (boe/d)—are set to enter a phase of accelerated growth. The centerpiece of this expansion is the development of the North Gialo field, projected to add an estimated 100,000 boe/d. This initiative aligns closely with TotalEnergies’ stated strategy of increasing output from low-cost, low-emission resources.
| Concession/Field | Ownership Structure | Current Output (boe/d) | Planned Addition (boe/d) | Extension End Date |
|---|---|---|---|---|
| Waha | NOC (59.16%), TotalEnergies (20.42%), ConocoPhillips (20.42%) | 370,000 | +100,000 (North Gialo) | December 31, 2050 |
Company Commitment: 70 Years in Libya and Counting
This extension is more than a renewal; it reflects TotalEnergies’ 70-year presence in Libya and ongoing partnership with Libya’s National Oil Corporation. The company’s production in the country averaged 113,000 boe/d in 2025 (across offshore Al Jurf and onshore El Sharara and Waha), with Waha viewed as a linchpin for future growth. Significantly, the Waha Oil Company, which operates these concessions, remains 100% owned by Libya’s NOC, ensuring close alignment of interests as new investments roll out.
Strategic Rationale: Low-Cost, Low-Emission Resources Underpin Growth
The appeal of the Waha asset—according to management—rests in its ability to combine scale, efficiency, and environmental performance. The new terms offer both improved economics and a platform to sustain and grow output over the next quarter-century. This strategic positioning is consistent across TotalEnergies’ broader portfolio, which spans oil, renewables, natural gas, and emerging low-carbon technologies in 120 countries.
Key Takeaway: Libya to Remain Central in TotalEnergies’ Portfolio
For investors and observers, the extension signals that Libya remains a cornerstone for TotalEnergies’ upstream expansion strategy. The planned production boost from North Gialo—adding nearly 27% to current Waha output—underscores a dual commitment to reliable hydrocarbons supply and sustainable development. As global energy markets seek security and scale, the developments in Libya are set to play a meaningful role in shaping TotalEnergies’ growth trajectory through 2050 and beyond.
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