Libya: TotalEnergies Announces the Restart of Production at the Mabruk Field
MWN-AI** Summary
TotalEnergies has successfully announced the restart of production at the Mabruk oil field in Libya after halting operations in 2015. The company holds a significant interest of 37.5% in the Mabruk field, which is located approximately 130 kilometers south of Sirte, within concession C17. This revitalization project aligns with TotalEnergies' long-term commitment to the Libyan market, particularly highlighted as the company celebrates its 70th anniversary in the country this year.
In May 2024, TotalEnergies commenced constructing a new production unit with a capacity of 25,000 barrels per day, culminating in its operational start on February 28, 2026. Julien Pouget, the Middle East and North Africa Director for TotalEnergies’ Exploration & Production business, emphasized that this move is a critical part of their strategy, reinforcing their goal of achieving a 3% annual production growth leading up to 2030.
TotalEnergies has been active in Libya since 1956 and reported an average production of 113,000 barrels of oil equivalent per day in 2025 from various fields, including offshore and onshore areas such as Al Jurf, El Sharara, and the Waha concessions. The latter, comprising interests from Libya's National Oil Corporation (NOC) and ConocoPhillips, is operated by Waha Oil Company, which is wholly owned by NOC.
As a global integrated energy company, TotalEnergies focuses on sustainable and low-emissions energy production, with operations in approximately 120 countries. The company's commitment to sustainability shapes its strategic direction and operational objectives, demonstrating its adaptability in the fluctuating energy landscape.
MWN-AI** Analysis
The recent announcement by TotalEnergies regarding the restart of production at the Mabruk oil field in Libya signifies a pivotal moment for both the company and the wider Libyan oil sector. With production halted since 2015, the reactivation of the Mabruk field, backed by a newly constructed production unit capable of handling 25,000 barrels per day, demonstrates TotalEnergies' commitment to revitalizing operations in Libya, especially as the country grapples with political and economic instability.
For investors, this move could potentially enhance TotalEnergies’ production portfolio, aligning with its ambitious goal of achieving a 3% annual production growth until 2030. The focus on low-cost and low-emissions oil production resonates with growing global trends towards sustainability, offering a competitive edge. The company's 70-year legacy in Libya underlines its resilience and strategic patience in navigating complex market dynamics, signaling long-term value creation.
However, while the restart is promising, investors should remain cautious. Libya’s political landscape poses ongoing risks that can affect production stability and operational costs. The total production from TotalEnergies in Libya averaged 113,000 barrels of oil equivalent per day in 2025, but geopolitical instability might hinder growth trajectories and operational sustainability.
As TotalEnergies expands its foothold with the Mabruk field and extends its presence in the Waha concessions, the potential for diversification and enhanced production makes it an attractive prospect for energy investors. Nevertheless, it is essential to continuously monitor the political climate and regulatory environment in Libya, as these factors will be crucial in shaping the future profitability of TotalEnergies' investments in the region.
In conclusion, while the announcement bodes well for TotalEnergies and the Libyan oil sector, cautious optimism is advised. Careful analysis of the evolving geopolitical situation and market conditions will be vital for informed investment decisions.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the restart of production at the Mabruk oil field in Libya, in which the Company holds an interest of 37.5%.
The Mabruk field is located onshore, in concession C17, around 130 km south of Sirte. Production from the field was stopped in 2015.
The construction of a new production unit with a capacity of 25,000 barrels per day was launched in May 2024. Start-up of this new facility occurred on February 28, 2026, less than two years after the project was launched.
“This restart illustrates our long-term commitment in Libya, as we celebrate TotalEnergies’ 70 th anniversary in the country this year,” said Julien Pouget, Middle East and North Africa Director for TotalEnergies’ Exploration & Production business . “This project, which follows TotalEnergies’ recent announcements regarding the extension of the Waha concessions, brings low-cost, low-emissions oil production in line with the Company’s strategy, and contributes to our objective of 3% annual production growth per year until 2030.”
TotalEnergies in Libya
TotalEnergies has been present in Libya since 1956. In 2025, the Company’s production in the country averaged 113,000 barrels of oil equivalent per day, from the offshore Al Jurf field (TotalEnergies 37.5%), the onshore areas of El Sharara (TotalEnergies 15% in former Block NC 115 and 12% in former Block NC 186), Mabruk (37.5%), and the onshore Waha concessions (TotalEnergies 20.42%). The Waha concessions are held by NOC (59.16%), TotalEnergies (20.42%) and ConocoPhillips (20.42%) and are operated by Waha Oil Company (WOC), a company 100% owned by NOC.
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
View source version on businesswire.com: https://www.businesswire.com/news/home/20260311859739/en/
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
FAQ**
How does the restart of production at the Mabruk oil field impact the financial outlook for TotalEnergies SE ADR (Sponsored) TTE in terms of potential revenue generation over the next few years?
What are the expected operational costs associated with the new production unit at the Mabruk field, and how might this affect TotalEnergies SE ADR (Sponsored) TTE's profit margins?
Given that TotalEnergies is targeting a annual production growth until 2030, how does the Mabruk oil field's output contribute to this goal for TotalEnergies SE ADR (Sponsored) TTE?
What risks are associated with TotalEnergies' continued operations in Libya, and how could these impact the stock performance of TotalEnergies SE ADR (Sponsored) TTE moving forward?
**MWN-AI FAQ is based on asking OpenAI questions about TotalEnergies SE (OTC: TTFNF).
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