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An update from TotalEnergies SE ( (FR:TTE) ) is now available.
TotalEnergies has signed an agreement with Libya’s Government of National Unity to extend the Waha oil concessions until December 31, 2050, securing long-term access to one of the country’s major low-cost, low-emission resource bases. The revised fiscal terms are designed to support higher output from current production of around 370,000 barrels of oil equivalent per day and unlock a new investment phase, notably the development of the North Gialo field, which is expected to add 100,000 boe/d; the move reinforces TotalEnergies’ 70‑year presence in Libya and aligns with its strategy of growing production from large, competitively advantaged assets, while potentially bolstering the country’s oil sector and the positions of its national oil company and international partners.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company active in about 120 countries, producing and marketing oil and biofuels, natural gas, biogas and low‑carbon hydrogen, as well as renewables and electricity. With more than 100,000 employees, it focuses on providing reliable, affordable and more sustainable energy, placing sustainability at the core of its strategy, projects and operations; in Libya, where it has operated since 1956, the group is a partner in key offshore and onshore fields, including the Waha concessions alongside the National Oil Corporation and ConocoPhillips.
See more data about TTE stock on TipRanks’ Stock Analysis page.