ConocoPhillips, TotalEnergies SE and Libya’s Nationwide Oil Corp (NOC) have signed an settlement extending the onshore Waha concessions to December 2050.
“This settlement units new fiscal phrases permitting to extend the manufacturing of those concessions which are at present producing round 370,000 barrels of oil equal per day (boed)”, French power large TotalEnergies stated in a web based assertion. “Due to this fact, it paves the way in which for a brand new section of investments, together with the event of the North Gialo area, which is anticipated so as to add 100,000 boed of manufacturing”.
Patrick Pouyanné, TotalEnergies chair and chief government, stated, “Extending the Waha concession, with its low-cost and low-emission large sources providing many alternatives to develop manufacturing, suits completely with our technique”.
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The North African nation, the place TotalEnergies has been current since 1956, accounted for 113,000 boed of the corporate’s 2025 manufacturing, the assertion famous. These got here from the Waha concessions, the place TotalEnergies owns a 20.42 p.c stake; the offshore Al Jurf area, the place TotalEnergies holds 37.5 p.c; the onshore El Sharara area, which straddles the previous Block NC 115, owned 15 p.c by TotalEnergies, and the previous Block NC 186, the place TotalEnergies has a 12 p.c possession; and the onshore Mabruk area, the place TotalEnergies owns 37.5 p.c.
NOC operates the Waha concessions with a 59.16 p.c by Waha Oil Co. Houston, Texas-based ConocoPhillips owns 20.42 p.c.
The brand new concession deal was signed through the Libya Power and Economic system Summit in Tripoli.
NOC stated in a press launch November 3, 2025 the companions plan to drill seven exploration wells within the concessions in 2026. Plans for Waha this yr additionally embrace a seismic survey and the processing and reprocessing of current seismic knowledge in response to the discharge.
In 2025 NOC introduced two manufacturing properly startups and one manufacturing properly restart. On September 12, 2025 it stated it had accomplished the K222 horizontal properly on the Daffa Station with preliminary exams indicating as much as about 4,100 barrels per day of crude manufacturing. On September 10, 2025 NOC stated preliminary exams at a brand new properly on the Faregh area “confirmed a circulate of roughly 28 million cubic toes of pure gasoline and a manufacturing of 1,290 barrels of condensate per day at a 64/64 choke”.
“Technical groups additionally efficiently maintained properly (BB 7) after analyzing the petrophysical properties of the sandstone reservoir”, NOC stated within the September 10 announcement. “Preliminary manufacturing from the properly reached roughly 1,478 barrels of oil per day and 1.8 million cubic toes of gasoline”.
To contact the creator, e-mail jov.onsat@rigzone.com
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