Global energy companies are renewing their presence in Libya as Tripoli seeks fresh investment to expand oil and gas production. A delegation from the Tripoli-based government visited Washington to promote the country’s first oil exploration licensing round in 18 years.
Major firms — including Shell, Chevron, TotalEnergies, Eni and Repsol — have been pre-qualified to bid, following ExxonMobil’s 2024 agreement to explore offshore gas.
Tripoli aims to raise output from 1.4mn to 2mn barrels per day by 2030 and is offering more attractive production-sharing terms.
Key developments
• Libya remains divided between rival administrations, with key reserves located in territory controlled by General Khalifa Haftar.
• Libyan officials sought US backing to limit Russian influence and unify economic governance.
• Analysts note rising Russian military activity in the east and warn that new investments could reinforce existing power structures.
Officials argue that Western technology and renewed industry engagement could support stability and provide alternative supplies to Russian energy.
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