Energy: Libya
Waha Oil Company, a Libyan operator fully owned by the state National Oil Corporation (NOC), plans to drill three new exploratory wells in 2027 and to run seismic surveys, which map underground rock with sound waves, in two of its concession areas (state-granted drilling rights), according to the NOC. The NOC announced the plan on its Facebook page, as relayed by Libyan media on Friday 13 November 2026.
The plan matters beyond Libya because US company ConocoPhillips owns 20.42% of the Waha concessions, alongside France’s TotalEnergies at 20.42% and the NOC at 59.16%, according to TotalEnergies. Exploratory wells, which test for oil in new areas, are the first step in finding new reserves, so the number drilled shows how hard the partners are pushing.
Key Facts
—Plan. As relayed by Libyan media, the NOC says Waha plans three exploratory wells and seismic surveys in 2027.
—Meeting. The NOC says it held its second technical meeting of 2026 with Waha on Thursday 12 November.
—Owners. The NOC holds 59.16% of the Waha concessions; TotalEnergies and ConocoPhillips hold 20.42% each.
—Output. About 370,000 barrels of oil equivalent (oil and gas combined) a day, as of January 2026.
—Not published. Well sites, concession names and the 2027 budget have not been published.
Libya’s state oil company reportedly plans three exploratory wells at Waha in 2027; its November 2025 meeting listed seven exploratory wells among the work plans discussed.
What the National Oil Corporation Announced
The NOC said its exploration department and Waha’s exploration department held the second technical meeting of 2026 at NOC headquarters. Waha reviewed its 2026 exploration results, including drilling, seismic surveys and technical studies, and presented its proposed 2027 programme.
Participants also discussed the proposed 2027 exploration budget and gave technical and financial feedback. The announcement gave no budget figure, no well locations and no names for the two concession areas.
Three Wells Now, Seven Listed in 2025
At its technical meeting with Waha on Monday 3 November 2025, the NOC listed work plans, discussed alongside proposed 2026 projects, that included drilling seven exploratory wells, according to the NOC website. The 2027 plan, as announced, is for three wells.
The announcements do not say how many wells were drilled in 2026 or what they found. Without that, the difference between seven and three cannot be read as a retreat or as a response to earlier results.
Who Owns Waha and What Is at Stake
TotalEnergies said on 26 January 2026 that it had signed, on Saturday 24 January, an extension of the Waha concessions to 31 December 2050, with new fiscal terms meant to raise output from about 370,000 barrels of oil equivalent a day, its figure at that date. The company said Waha Oil Company, which operates them, is fully owned by NOC.
TotalEnergies said the North Gialo field, a major planned development under the new terms, is expected to add 100,000 barrels of oil equivalent a day. Exploration wells are meant to find oil beyond fields already in development.
For US readers, the stake is ConocoPhillips, a US oil company with a 20.42% share. A well that finds oil would add to reserves in which a US company holds a fifth of the interest.
What to Watch Next
The NOC has not said when Waha’s 2027 budget will be approved or when drilling will start, and neither date is confirmed. We also found no public comment from TotalEnergies or ConocoPhillips on the 2027 plan.
Our reports cover Libya’s October oil revenue and the unresolved Arkenu oil deal. Our Libya explainer sets out the wider picture.
What Is Not Known
The two concession areas, the well locations and the 2027 budget are not published. We saw the NOC website news item on the 12 November meeting but could not read the full text of its Facebook announcement, so the three-well figure rests on that announcement as relayed by Libyan media and is reported, not confirmed.
Frequently Asked Questions
What is Waha Oil Company?
Waha Oil Company operates the Waha oil concessions in Libya and is fully owned by the National Oil Corporation, according to TotalEnergies. TotalEnergies said in January 2026 that the concessions produce about 370,000 barrels of oil equivalent a day, meaning oil plus gas counted in oil terms.
How many wells does Waha plan to drill in 2027?
Three exploratory wells, plus seismic surveys in two concession areas, according to the NOC announcement reported on 13 November 2026. No locations or budget were given.
Who owns the Waha concessions?
The NOC holds 59.16%, France’s TotalEnergies 20.42% and the US company ConocoPhillips 20.42%, according to TotalEnergies’ release of 26 January 2026.
Sources: National Oil Corporation of Libya, website news item on the 12 November 2026 meeting, seen 14 November 2026; NOC announcement on its Facebook page, as relayed by Libyan media on 13 November 2026; NOC, annual technical meeting with Waha, 3 November 2025; TotalEnergies, extension of the Waha concessions, 26 January 2026.
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