Libya signs energy deals to boost production, investment

TRIPOLI

Libya on Saturday signed a series of multilateral agreements aimed at boosting energy production, accelerating investment and deepening partnerships with international companies.

The deals were signed on the sidelines of the Libya Energy and Economy Summit (LEES) 2026 in Tripoli, as the country seeks to strengthen cooperation with global energy firms and improve its investment climate.

Organized by Africa-focused investment platform Energy Capital & Power, the three-day summit is being held for the fourth time with the support of Libya’s Prime Ministry, the Ministry of Oil and Gas, the National Oil Corporation (NOC) and the Renewable Energy Authority of Libya.

Under the agreements, NOC signed a first amendment to the Waha concession agreement with France’s TotalEnergies and US-based ConocoPhillips.

The amendment was signed by Libyan Prime Minister Abdulhamid Dbeibeh, NOC acting chairman Masoud Suleiman, TotalEnergies CEO Patrick Pouyanne, and ConocoPhillips CEO Ryan M. Lance.

The agreement is intended to reinforce long-term investment commitments and support higher output at Waha, one of Libya’s most strategic oil-producing areas.

Production across the Waha concession -- which includes the Gialo, Samah, Dahra and Bahi fields -- reached about 375,000 barrels per day in 2025, accounting for roughly 22% of Libya’s total oil output. Authorities aim to raise production to 600,000-700,000 barrels per day in the medium term.

The concession is operated by Waha Oil Company, in which NOC holds a 59.18% stake, while TotalEnergies and ConocoPhillips each own 20.41%.

Egypt, France cooperation

Separately, Libya and Egypt signed a memorandum of understanding (MoU) to expand technical cooperation, capacity building and institutional coordination in the oil and gas sector. The agreement was signed by Libyan Oil and Gas Minister Khalifa Abdulsadek and Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi.

The MoU covers upstream, midstream and downstream activities, including production optimization, training and technology transfer.

Libya also signed a separate MoU with Chevron to assess potential exploration and development opportunities.