Matthew Goosen
An In-Depth Look at Pre-Qualified Firms
- Libya will reveal the results of its first oil and gas licensing round in 18 years on February 11, 2026.
- Majors including Chevron, ExxonMobil and TotalEnergies are among the pre-qualified companies, alongside state-backed firms such as QatarEnergy, Sonatrach, TPAO and Lukoil.
- The pre-qualified companies position Libya to attract major investment and accelerate its goal of 2 million barrels per day by 2030.
Libya is set to announce the winners of its oil and gas licensing round on February 11, 2026, a key step in efforts to boost exploration and raise production to 2 million barrels per day (bpd). The round covers 22 onshore and offshore blocks across the Sirte, Murzuq and Ghadames basins, while the updated EPSA V framework offers some of the region’s most investor-friendly fiscal terms (Energy Capital & Power published a detailed guide last May).
A total of 37 companies have been pre-qualified, including majors such as Shell, Eni, TotalEnergies, ExxonMobil and Chevron, alongside state-owned firms like QatarEnergy and Lukoil. With higher potential returns, faster cost recovery and simplified profit-sharing, Libya aims to attract investment across both established and underexplored basins – from Sirte offshore to the largely untapped Cyrenaica Platform. Below is a comprehensive look at the companies pre-qualified ahead of Libya’s licensing round results.
Global Energy Players Return
Chevron and ExxonMobil are making high-profile returns to Libya after multi-year absences. Chevron signed a strategic MoU with Libya’s NOC last month to explore producing fields and unconventional resources, while ExxonMobil resumed operations in August 2025, targeting offshore Sirte Basin blocks. Meanwhile, TotalEnergies and ConocoPhillips have signed a 25-year development agreement with the NOC to extend the Waha concessions and invest in increasing production by around 100,000 bpd.
European majors remain central to Libya’s energy sector. Italy’s Eni continues operator roles through its NOC joint venture, managing offshore Structures A&E and the Bouri Gas Utilization program. TotalEnergies and Repsol are investing billions across Waha, North Gialo and El Sharara fields. Shell and bp have returned after extended hiatuses, with Shell focusing on Al-Atshan and bp undertaking deepwater exploration in the Gulf of Sirte.
State-Backed Firms Drive Investment
Regional and state-backed firms are among the pre-qualified participants, reflecting Libya’s strategy to attract diverse international partners. QatarEnergy, Algeria’s Sonatrach and Turkey’s TPAO are on the list, with Sonatrach resuming exploration in October 2025 after a decade-long pause. Russia’s Lukoil and Chinese firms CNODC and ZhenHua Oil are also participating, highlighting that geopolitical tensions have not deterred interest in Libya’s underexplored basins.
Other participants include Oman’s OQ E&P, Poland’s PGNiG and Pakistan’s OGDCL and PPL (the latter also investing via GHPL). These state-backed firms complement 29 international operators, providing technical expertise and capital.
Independent Operators Bring Expertise
Independent operators add technical depth. Woodside Energy brings offshore experience, MOL Group and DNO provide MENA and onshore know-how, while Formentera Partners, Petrogas, United Energy Group and Jereh Group focus on mature field redevelopment, frontier exploration and cost-efficient production.
The round also includes a carefully selected group of investment partners to provide capital and strategic support alongside lead operators. Partners – including Indian Oil Corporation, Cheiron Petroleum, Geo-jade Petroleum, Gran Tierra Energy, Gulfsands Petroleum and Bares Holding SA – bring capital, regional experience and portfolio diversification. Together, they support the NOC’s three-pronged strategy: geographic diversification, disciplined private capital and regional synergy.
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