TotalEnergies Secures Extension of Libya's Waha Oil Concession to 2050 with Deal to Boost Capacity

TotalEnergies has signed an agreement to extend its Waha oil concessions in Libya until 2050, setting new financial terms to boost production. The deal aims to increase Libyan oil capacity and provides a 50% increase in the profit oil share for TotalEnergies, as well as a 5% increase in the company's share of the investment budget.