Libya: TotalEnergies Signs the Extension of the Waha Concessions until 2050

On January 24, at the Libya Energy & Economy Summit in Tripoli, TotalEnergies Chairman and CEO Patrick Pouyanné signed an agreement to extend the Waha Concessions until December 31, 2050, witnessed by Abdul Hamid Dbeiba, Prime Minister of the Government of National Unity.

The agreement introduces revised fiscal terms aimed at boosting output from the concessions, which currently produce about 370,000 barrels of oil equivalent per day (boe/d). It also opens the door to a new investment phase, including the development of the North Gialo field, expected to contribute an additional 100,000 boe/d.

Marking 70 years of operations in Libya, Pouyanné welcomed the extension and expressed appreciation to the Libyan authorities for their continued support, particularly Libya’s Minister of Oil and Gas Dr. Khalifa Rajab Abdulsadek and National Oil Corporation Chairman Masoud Suleman. Active in Libya since 1956, TotalEnergies reaffirmed its long-term commitment to working with its partners to increase production at Waha, beginning with the North Gialo development. The extension of the Waha concession, characterized by low costs and low emissions with significant growth potential, aligns closely with TotalEnergies’ strategic objectives.