US energy major Chevron discusses possible entry into Libyan oil market

Khalifa Abdul Sadiq, the Acting Minister of Oil and Gas in Libya’s Government of National Unity (GNU), discussed potential cooperation and investment opportunities with a high-level delegation from the US energy company Chevron, the Libya Observer reported on July 13. 

The meeting took place during Abdul Sadiq’s participation in the 9th International OPEC Seminar held at the OPEC headquarters in Vienna, Austria. He said it reflected the improved investment climate in Libya, which has encouraged several major international companies to resume operations.

Talks also explored ways Chevron could support the goals of the Ministry and Libya’s state-owned National Oil Corporation (NOC) in boosting oil production and developing sector infrastructure. Chevron’s delegation included Joe Cook, Director of Exploration and Production; Mamadou Beye, Regional Vice President for Corporate Affairs; and Jan Curtis, Head of Regional Affairs for the Mediterranean and North Africa.

Libya is doubling efforts as part of broader efforts to build partnerships with leading global energy firms to develop the sector, create sustainable investment opportunities, and enhance the country’s role as a reliable energy supplier.

Earlier in July, Bloomberg reported that 37 companies, including major international energy companies, have submitted bids to participate in Libya’s first oil and gas exploration tender since the 2011 war. The NOC officially launched the licensing round in March 2025, marking a significant reopening of Libya’s exploration sector after years of disruption caused by the 2011 revolution and subsequent internal conflict.

The energy companies include Chevron and ExxonMobil (both US), TotalEnergies (France) and Eni (Italy). The tender covers 22 onshore and offshore exploration blocks across various parts of Libya.

On July 8, Oil & Gas Journal reported that global energy major BP signed a Memorandum of Understanding (MoU) with NOC to explore the redevelopment of the Sarir and Messla oilfields, both located in the Sirte Basin.