Libya’s Minister of Oil and Gas, H.E. Mohamed Aoun announced that Turkish companies are the preferred partners for seismic research in Libya, citing Turkey’s geographical proximity and expertise in the field as the primary reasons for the preference. As such, priority will be given to Turkish firms as Libya prepares to invite international partners to carry out oil and gas exploration research in the North African country. According to official data, 29 new oil fields and 12 natural gas fields have been discovered in Libya in recent years, however exploration efforts lack development due to the country’s vast territorial waters.
Therefore, the Ministry is focused on advancing exploration and seismic research in the hopes of unlocking new finds.
H.E. Minister Aoun has urged Libya’s state-owned National Oil Corporation to undertake mapping activities in the country to identify potential oil and natural gas discoveries, noting that a significant portion of Libyan lands and seas – approximately 30-40% – have not undergone exploration activities.
With the exclusive economic zones between Italy, Greece, Malta, Turkey and Libya offering a premier opportunity for the region to uncover untapped reserves while serving to expand Libya’s oil and gas sector, the Minister further expressed his Ministry’s hope that exploration will be conducted in these areas, and Turkish companies can play a role.
During the last edition of the Libya Energy & Economic Summit– organized by Energy Capital & Power – a delegation of Turkish companies led by the Turkish embassy were invited and participated, a testament to both countries’ commitment towards bilateral cooperation in the field of energy.
