European Majors, NOCs to Participate at Libya Energy Summit Amid Rising Regional Energy Stakes
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European IOCs and NOCs are reaffirming their commitment to Libya, positioning the country at the heart of Mediterranean energy dynamics ahead of the Libya Energy & Economic Summit (LEES) 2026, scheduled for January 24-26 in Tripoli. Majors including Eni, TotalEnergies, OMV and Repsol, alongside Hungary’s MOL and Turkey’s state-owned Petroleum Corporation (TPAO), will outline plans to accelerate exploration and boost Libya’s hydrocarbon production.
This resurgence comes amid a shifting geopolitical landscape in North Africa, where Libya’s untapped hydrocarbon resources have become increasingly strategic for regional energy security and European supply diversification. European IOCs are moving decisively to secure upstream positions, signaling confidence in Libya’s long-term production potential and regulatory environment.
In June 2025, TPAO signed an MOU with Libya’s NOC to undertake a geological and geophysical study of four offshore areas. This follows last year’s strategic partnership formalized between TPAO and MOL to collaborate on exploration, field development and production projects across multiple regions, including North Africa. At LEES 2026, MOL’s Executive Vice President – E&P, Zsombor Marton, and TPAO CEO, Ahmet Türkoğlu, will discuss how their collaboration is designed to unlock new production and support European energy security, while demonstrating a model for regional cooperation.
Meanwhile, Italian major Eni is resuming offshore drilling with the C1-16/4 exploratory well near the Bahr Essalam gas field as part of its $8 billion Structure A&E project, designed to produce 750 million standard cubic feet of gas per day. Other European players are following suit: OMV restarted operations in the Sirte Basin after a 13-year hiatus, Repsol is targeting the A1-2/130 Neser Prospect in the Murzuq Basin, and TotalEnergies is drilling near Sharara to capitalize on untapped resources. All three are returning to LEES 2026 as Diamond Sponsors, reinforcing their strategic commitment to Libya’s energy sector.
The resurgence of European IOCs and regional NOCs in Libya reflects broader market and geopolitical dynamics. With North African energy supplies increasingly strategic for European security, companies are securing upstream positions in politically complex but resource-rich regions. Their coordinated return signals confidence in Libya’s regulatory environment, could attract further foreign investment and incentivize modernization across the oil and gas value chain. It also provides a testing ground for advanced offshore and onshore technologies, enabling optimized recovery while managing frontier-market risks.
Join industry leaders at the Libya Energy & Economic Summit 2026 in Tripoli and explore investment opportunities in one of North Africa’s most dynamic energy markets. LEES 2026 offers a premier platform for partnerships, innovation and sector growth. Visit www.libyasummit.comto secure your participation. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.