Libya’s state-owned National Oil Corporation (NOC) and its international partners TotalEnergies and ConocoPhillips have signed a first amendment to the re-entry agreement for the Waha Concession.

The amendment reinforces international commitment to one of the country’s most strategic upstream assets as Libya pushes toward higher national production.

The amendment was signed at the Libya Energy & Economic Summit in Tripoli by Prime Minister Abdulhamid Al-Dbeibeh, NOC Acting Chairman Massoud. Suleman, TotalEnergies CEO Patrick Pouyanné and ConocoPhillips CEO Ryan Lance, reported Energy Capital & Power.

Production at the concession – which includes the Waha, Gialo, Samah, Dahra and Bahi fields – reached around 375,000 bpd in early 2025, with output hitting a multi-year high later in the year and accounting for roughly 22 per cent of Libya’s total oil production.

Development efforts have focused on infill drilling, well optimisation, infrastructure upgrades and the appraisal of previously discovered resources.

Looking ahead, the operators are targeting production levels of between 600,000 and 700,000 bpd through phased development of additional reserves, including North Gialo and NC-98, alongside new exploration programmes.

 These plans are supported by ongoing seismic acquisition and reprocessing campaigns, exploratory drilling and updated subsurface studies across multiple blocks.

The Waha Concession is operated by Waha Oil Company under a joint venture structure with international partners.

 The NOC holds approximately 59.18 per cent of the concession, alongside TotalEnergies (20.41 per cent) and ConocoPhillips (20.41 per cent).