On the second day of the Libya Energy & Economic Summit 2025, major oil companies revealed bold strategies for boosting production and exploration in Libya. TotalEnergies reported a production increase of more than 20% at the Waha oilfield, while Repsol announced plans to drill nine new prospects in 2025 as part of an intensified exploration effort.

These updates were shared during a series of fireside chats hosted by Libya’s National Oil Corporation, where international energy companies discussed their ongoing and upcoming activities and Libya’s strategy to raise oil output to two million barrels per day by 2030.

TotalEnergies

Jean Jaylet, Vice President for North Africa and Yemen at TotalEnergies, highlighted the company’s success in enhancing production at the Waha oilfield, located in the Sirte Basin. “Waha is a massive concession. It has many fields, many reservoirs. It’s been producing for 50 years. And still, the operating company – [Waha Oil Company] – has been able to increase production by more than 20%,” Jaylet stated. He also noted that the field holds significant untapped potential. “There is much more production in this concession. There are several billion barrels that have not been touched so far,” he added.

Repsol

Repsol’s Regional Executive Director for Europe, Africa, Asia, Brazil and Venezuela, J. Carlos Vicente Bravo, detailed the company’s ambitious exploration plans for 2025, with nine prospects identified for drilling. Bravo emphasized the company’s integrated approach, aiming not only to discover new reserves, but also to optimize production at existing wells. “Through an integrated approach, we want to ramp up activity. We don’t just want to drill wells; we want to optimize production at existing wells,” Bravo stated, adding, “In order to have ambition, we need to have a mission.”

Eni

Eni’s fireside chat highlighted the company’s interest in participating in Libya’s 2025 licensing round, which will offer 22 onshore and offshore blocks for development. Mirko Araldi, Eni Libya Managing Director, shared plans for four exploration wells in 2025, including an ultra-deep well in the offshore Ghadames Basin, scheduled for the second half of the year in partnership with bp. “Exploration is a very important activity,” Araldi said, adding, “It’s a cornerstone in Eni Libya’s strategy. We have a very intense program this year.”