Oil Exploration and Production in Libya Offers New Horizons for Turkey

From Turkish Weekly

Turkish Energy and Natural Resources Minister Taner Yildiz has said that they pay attention to Libya in the scope of oil exploration and production abroad.

He added that Turkey’s existing fields in Libya were not enough so they demanded for more.

Yildiz who is on a tour of Algeria, Libya and Qatar spoke to journalists while he was flying from Libya to Qatar.

Yildiz reminded that under the current deal, Turkey procures 56 cargo Liquefied natural gas (LNG) from Algeria and demanded extra cargo for the winter season and lastly said that his negotiations in the country went very productive.

Furthermore, he said that Libya went through a such difficult period and said, “The normalization of the country will be possible with the rise in the petrol and natural gas revenue. If Libya’s oil output of 1.6 million barrels oil production daily increased to 2 million barrels, it would be beneficial for the country.”

Yildiz said, “Turkey has oil exploration and production works in Libya’s Fezzan field however it is not enough. We demanded new fields. There are three probabilities in this topic. First of all, the independent approach of Turkish Petroleum Corporation (TPAO), secondly the cooperation of TPAO and Turkish private sector and lastly, the independent works of private sector.”

He said that during their meeting with President of Libyan General National Congress Mohammed el-Magariaf, they discussed the slow pace of cooperation which needs to be put aside.

He stressed that they discussed the same topic with officials of Libyan oil company NOC and said that their demand was to inform them with their wishes and put those wishes into practice as soon as possible.

Yildiz explained that Libyan officials were looking positively to both Turkey and the Turkish firms.

He stressed that during conflicts in the county, the power infrastructure of the country was damaged badly and said, “They will invest $2.5 billion in their power infrastructure this year. We wish to carry on their power infrastructure master plan. So in this case, Turkish private sector needs to undertake one quarter work of the investment for power infrastructure.”

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