NOC Reviews Waha Oil Company’s Financial and Operational Plans
At its Tripoli headquarters, the NOC held a two-day technical and financial meeting in 2026 to review Waha Oil Company’s technical and financial plans, along with its project progress for 2026 and 2027.
The meeting was attended by the Board Member for Exploration and Production, the Chairman of the Company’s Management Committee, representatives of the two foreign partners, ConocoPhillips and TotalEnergies, and specialists from both sides.
On the first day, presentations covered safety and environmental topics, reservoir engineering, drilling and maintenance programs, ongoing projects, technology, financial affairs, and the production-boost plan. The indicators showed that production remains stable at 357,000 barrels per day. The company’s 2026 target is to add 42,000 barrels per day through development drilling and maintenance of shut-in wells. Of this goal, 27,000 barrels per day have been achieved; about 64% of the target.
The drilling program for 29 wells was also reviewed, including 20 vertical wells, 5 horizontal wells, and 4 wells for water injection.
The second day focused on engineering projects, the challenges of pipeline leaks, and setting priorities to address them. Discussions also covered financial obligations and their impact on contractors, with an emphasis on securing funding and strengthening safety standards.
The meeting ended with the NOC reaffirming its commitment to continued coordination to overcome obstacles and accelerate projects, ensuring the sustainability and growth of production.