Turkey Seeks to Tap Libya for Oil Exploration and Production
Turkey seeks to utilize Libya in the scope of its international oil exploration and production. Turkey’s Minister of Energy and Natural Resources, Taner Yildiz, expressed that desire during his meeting with Libya’s Minister of Oil, Abdulhadi al-Arusi
During his brief weekend trip to Tripoli, Yildiz also had a different meeting with two other Libya officials, particularly its Electricity and Renewable Energy Minister, Ali Muhammad Muhayrik, and the General National Congress President, Mohammed el-Magharief. At his trip’s conclusion, the minister of Turkey said that he left Libya satisfied at the end of all their beneficial meetings.
Yildiz, whose visit to Libya was a part of his present trip also set to bring him to Qatar and Algeria for other talks, stated that the oil exploration fields of Turkey in Libya weren’t sufficient, that is why his country is asking for more.
With regards to the revolution, the minister of Turkey said that nation’s normalization can happen with the revenue increase from natural gas and petrol. It will be greatly beneficial for Libya if their daily oil production Libya could rise from 1.6 million to 2 million (barrels per day), said Yildiz.
The minister further said that Turkey currently has expansionary oil investment plans in the Fezzan field of Libya. But, that isn’t sufficient, so they asked for new fields. This property has three possibilities, including Turkish Petroleum Corporation (TPAO)’s independent approach, joint cooperation of the Turkish private sector and TPAO and the private sector’s independent works.
Yilidz revealed that the slow movement of cooperation that has to be set aside was discussed with Mohammed el-Magharief during their meeting. Similar topics were covered with officials of the National Oil Corporation of Libya. Libyan officials demanded assistance from Turkey in order for them to attain their full potential.