Libya signed a series of multilateral agreements with international and regional partners, including Türkiye, aimed at boosting energy production, accelerating investment and deepening cooperation in the energy sector on Saturday.
The agreements were signed on the sidelines of the Libya Energy and Economy Summit (LEES) 2026 in Tripoli, as the country seeks to strengthen ties with global energy companies and improve its investment climate.
The three-day summit, organised by Africa-focused investment platform Energy Capital & Power, is being held for the fourth time with the support of Libya’s Prime Ministry, the Ministry of Oil and Gas, the National Oil Corporation (NOC) and the Renewable Energy Authority of Libya.
Under the agreements, the NOC signed a first amendment to the Waha concession agreement with France’s TotalEnergies and US-based ConocoPhillips. The amendment was signed by Libyan Prime Minister Abdulhamid Dbeibeh, NOC acting chairman Masoud Suleiman, TotalEnergies chief executive Patrick Pouyanne and ConocoPhillips chief executive Ryan M. Lance.
The amended agreement is intended to reinforce long-term investment commitments and support increased output at Waha, one of Libya’s most strategically important oil-producing areas.
Production across the Waha concession which includes the Gialo, Samah, Dahra and Bahi fields reached around 375,000 barrels per day in 2025, accounting for about 22% of Libya’s total oil production. Authorities aim to raise output to between 600,000 and 700,000 barrels per day in the medium term.
The concession is operated by Waha Oil Company, in which the NOC holds a 59.18% stake, while TotalEnergies and ConocoPhillips each hold 20.41%.
Alongside these agreements, Libya and Türkiye signed a memorandum of understanding at the 22nd Joint Economic Commission meeting held in Tripoli. The meeting, chaired by Türkiye’s Energy Minister Alparslan Bayraktar, focused on strengthening bilateral cooperation in the energy sector.
Under the Libya–Türkiye agreement, the two countries agreed to expand and diversify trade in crude oil and petroleum products between their respective state-owned companies. Bayraktar said Türkiye would continue to support Libya’s stability and economic prosperity, while enhancing cooperation across both land and maritime areas.
Separately, Libya and Egypt signed a memorandum of understanding to expand technical cooperation, capacity building and institutional coordination in the oil and gas sector. The agreement was signed by Libya’s Oil and Gas Minister Khalifa Abdulsadek and Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi.
The MoU covers upstream, midstream and downstream activities, including production optimisation, training and technology transfer.
Libya also signed a separate memorandum of understanding with Chevron to assess potential exploration and development opportunities.
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