- Comprises a number of concessions located in the Sirte Basin in eastern Libya
- Four main fields are: Waha, Gialo, Dahra and Defa
- Originally issued to Oasis Oil Company (consortium of Conoco, MRO and Amerada Hess)
- In 1986, US sanctions required all US companies to withdraw
- Concessions were held in escrow
- NOC established 100% subsidiary, the Waha Oil Company, to operate the fields until 2005 when the US companies re-entered
- In 2009, list of 24 fields to be developed were drawn up, however development has been slowed by NOC budget constraints
- In March 2011, production halted due to outbreak of civil war
- Production restarted in November 2011 and climbed quickly to pre-war levels as there was minimal damage to facilities
- However, in 2013...
- Operations were disrupted at the Dahra field due to clashes between armed militias and security guards
- Production at Gialo was disrupted by protesters demanding better jobs and living conditions from the government
- Disruptions have since worsened with local tribes and militias targeting oil and gas facilities with prolonged shut-ins since H2 2013
- According to various news sources, NOC announced on 25 August 2014 that production at the Waha concessions have resumed: http://www.bidnessetc.com/24617-libya-resumes-crude-oil-production-as-fighting-continues/
Current participations is (August 2014):
NOC 59.18%
COP: 16.33%
MRO: 16.33%
Hess: 8.16%
Waha Oil Company: -*
