Libya Oil Producer Waha Plans Three Wells
Libya's Waha Oil Company plans three exploratory wells and seismic surveys in two concession areas in 2027, the state oil company reportedly said. The post Libya Oil Producer Waha Plans Three Wells appeared first on The Rio Times .
Libya's state-owned National Oil Corporation (NOC) has announced plans to drill three new exploratory wells in 2027, along with conducting seismic surveys in two of its concession areas, according to a report relayed by Libyan media on November 13, 2026. The NOC's announcement, made on its Facebook page, highlights the company's commitment to finding new oil reserves.
The Waha Oil Company, fully owned by the NOC, collaborates with ConocoPhillips and TotalEnergies, each holding a 20.42% stake in the Waha concessions. TotalEnergies and ConocoPhillips joined forces to buy the stakes, with the NOC retaining the majority share of 59.16%. Exploratory wells, which test for oil in new areas, are the initial step in discovering new reserves, indicating the partners' dedication to expanding their operations.
The NOC held its second technical meeting of 2026 with Waha on November 12, 2026, and discussed their proposed 2027 exploration programme. The meeting saw the presentation of the 2026 exploration results, including drilling, seismic surveys, and technical studies, followed by a discussion on the proposed 2027 programme and the budget for the coming year. However, the budget figure, well locations, and names for the two concession areas remain undisclosed.
Although the announcement did not provide the 2026 or 2027 drilling figures, the reduction from seven wells to three is not necessarily a sign of the partners giving up. Instead, it could be interpreted as a strategic adjustment based on the results and budget considerations. The planned wells will enhance the output of the North Gialo field, a major development project under the new fiscal terms, which is expected to contribute an additional 100,000 barrels of oil equivalent per day to the overall production.
The NOC has not yet disclosed the approval date or the start of drilling for the 2027 wells, nor have the US companies - ConocoPhillips and TotalEnergies - commented on the 2027 plan. The details concerning the Waha Oil Company's operations in Libya and the concessions' output as of January 2026 are also not published.
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