A number of international oil companies (IOCs), including Total, plan to renew their business licenses to continue operations in Libya, Reuters reported.

In case the licenses are not renewed, there will be several oil companies to take over in 24 hours, according to the Tripoli-based Minister of Economy, Ali Issawi.

The renewal initiative of the French energy giant and 39 other firms came after the suspensions of their expired licenses, however, the ministry allowed a three-month grace period for renewals.

Issawi denied the move had a political motive, saying that some firms were operating without a license for a long time.

There are other firms required to renew their licenses as well; including French aerospace firm Thales, German engineering firm Siemens, telecoms equipment firm Alcatel-Lucent, owned by Finland’s Nokia, as well as Microsoft.