U.S. Relationship Renewal

The United States has stepped up its engagement with Libya, promoting political unity, institutional reform and economic development – moves that have boosted investor confidence. This renewed support facilitated ExxonMobil’s return after a decade-long absence, with the company signing a MOU with Libya’s National Oil Corporation (NOC) in August 2025 to conduct offshore geological and geophysical studies. Other U.S. firms are also expanding within the market: Chevron is exploring potential re-entry, ConocoPhillips is eyeing partnerships with Waha Oil to increase oil and gas production and Weatherford resumed oilfield services earlier this year.

Deepened Cooperation with Italy

Earlier this month, Italian oil major Eni resumed offshore exploration drilling northwest of Libya, restarting activities that had been paused in 2020 due to the pandemic. This is part of Eni’s broader $8 billion investment in the country, targeting both on- and offshore development projects, with a focus on expanding gas output at the Bouri and Bahr Essalam fields. In September 2025, Libya’s Foreign Ministry and Italy’s Ambassador discussed strengthening cooperation in training, capacity building and technical expertise across multiple industries. In the same month, the Libyan Development and Reconstruction Fund signed several MOUs with Italian company GKSD covering health, infrastructure, clean energy and environmental projects.

Growing Partnership with China

Libya elevated its relationship with China to a strategic partnership in 2024, focusing on trade, investment, industrialization and agricultural modernization. China also simplified visa procedures for Libyans via online applications. These diplomatic steps are unlocking major Chinese investment in the country, including a $10 billion refinery in Tobruk, upgrades to ports and airports and a rail corridor connecting Libya with Egypt and Chad. Libyan officials are actively encouraging Chinese firms to invest in industrial zones and technology transfer initiatives.

Turkey’s Strategic Repositioning

​​Turkey is deepening its engagement in Libya, signaling a broader strategic repositioning. In October 2025, Turkey and Libya signed two MOUs to boost bilateral trade, enhance customs and logistics cooperation, and support Turkish contractors in Libya. Negotiations are also underway for a free-trade agreement and a double taxation avoidance deal, with Libyan officials describing Turkey as a “long-term strategic partner.”

U.K.’s Return to Exploration

The United Kingdom is refining its approach to Libya, placing stronger emphasis on economic cooperation. Earlier this year, the Libyan Investment Authority met with the British Ambassador to discuss potential investment collaborations and opportunities. The British Ambassador has reaffirmed the UK’s commitment to supporting Libya’s stability and unity, expressing optimism about the country’s progress toward peace and development. These renewed diplomatic efforts have opened the door for British companies to return after years of instability: in July 2025, bp and Shell signed MOUs with the NOC to explore and develop oil and gas fields.

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