04:30 AM EST, 01/26/2026 (MT Newswires) -- TotalEnergies (TTE) said Monday it has agreed to extend the Waha oil concessions in Libya through Dec. 31, 2050.

The company said the deal was signed in the presence of Libya's Prime Minister Abdul Hamid Dbeiba.

TotalEnergies said the new agreement introduces updated fiscal terms that will support higher production from the concessions, which currently produce about 370,000 barrels of oil equivalent per day.

The agreement also opens the door to new investments, including the development of the North Gialo field, which is expected to add around 100,000 barrels of equivalent per day of additional output, the company said.