ConocoPhillips, TotalEnergies SE and Libya’s National Oil Corp (NOC) have signed an agreement extending the onshore Waha concessions to December 2050.
“This agreement sets new fiscal terms allowing to increase the production of these concessions that are currently producing around 370,000 barrels of oil equivalent per day (boed)”, French energy giant TotalEnergies said in an online statement. “Therefore, it paves the way for a new phase of investments, including the development of the North Gialo field, which is expected to add 100,000 boed of production”.
Patrick Pouyanné, TotalEnergies chair and chief executive, said, “Extending the Waha concession, with its low-cost and low-emission giant resources offering many opportunities to grow production, fits perfectly with our strategy”.
The North African country, where TotalEnergies has been present since 1956, accounted for 113,000 boed of the company’s 2025 production, the statement noted. These came from the Waha concessions, where TotalEnergies owns a 20.42 percent stake; the offshore Al Jurf field, where TotalEnergies holds 37.5 percent; the onshore El Sharara field, which straddles the former Block NC 115, owned 15 percent by TotalEnergies, and the former Block NC 186, where TotalEnergies has a 12 percent ownership; and the onshore Mabruk field, where TotalEnergies owns 37.5 percent.
NOC operates the Waha concessions with a 59.16 percent through Waha Oil Co. Houston, Texas-based ConocoPhillips owns 20.42 percent.
The new concession deal was signed during the Libya Energy and Economy Summit in Tripoli.
NOC said in a press release November 3, 2025 the partners plan to drill seven exploration wells in the concessions in 2026. Plans for Waha this year also include a seismic survey and the processing and reprocessing of existing seismic data according to the release.
In 2025 NOC announced two production well startups and one production well restart. On September 12, 2025 it said it had completed the K222 horizontal well at the Daffa Station with initial tests indicating up to about 4,100 barrels per day of crude production. On September 10, 2025 NOC said initial tests at a new well at the Faregh field “showed a flow of approximately 28 million cubic feet of natural gas and a production of 1,290 barrels of condensate per day at a 64/64 choke”.
“Technical teams also successfully maintained well (BB 7) after analyzing the petrophysical properties of the sandstone reservoir”, NOC said in the September 10 announcement. “Initial production from the well reached approximately 1,478 barrels of oil per day and 1.8 million cubic feet of gas”.
To contact the author, email jov.onsat@rigzone.com
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