Waha field

Waha field is an oil field located in the Libya Sirte basin and owned by the Waha Oil Company (WOC), which is a subsidiary of the National Oil Corporation (NOC). During 2006, the Waha fields produced around 350000 oilbbl per day, down from around 1 Moilbbl/d in 1969 and 400000 oilbbl/d in 1986. However, WOC expects to increase Waha output by around 200000 oilbbl/d over the next couple of years. In 2005, ConocoPhillips and co-venturers reached an agreement with NOC to both return to its operations in Libya and to extend the Waha concession by another 25 years. ConocoPhillips operates the Waha fields with a 16.33% share in the project. NOC has the largest share of the Waha concession at 59.17%, and additional partners include Marathon Oil (16.33%), and Amerada Hess (8.17%). The Waha oil field was captured by ISIS soldiers on March 5, 2015 but has since been recaptured.