Turkey, Libya's NOC plan to cooperate in oil exploration

Turkey, Libya's NOC plan to cooperate in oil exploration

June 28, 2020 - 20:34
Posted in:
Written By: AbdulkaderAssad

The Turkish Energy and Natural Resources Minister Fatih Donmez said Sunday Ankara was planning to cooperate with the National Oil Corporation, and international firms, in Libya in oil and gas exploration.

Donmez told a local media outlet in Turkey that Ankara spends about 40 billion dollars a year on energy resources' imports, saying the cost should be cut by local alternatives.

He also said that despite the fact that Ankara and Tripoli have a cooperation agreement in energy sectors, the Libyan resources must first be used for the development of the country and the wellbeing of its citizens.

"Turkey will continue with oil exploration activities in Libya in cooperation with the National Oil Corporation. Turkey could also cooperate with international firms in energy resources. This will be clear as time goes on." Donmez explained.

He mentioned a win-win situation policy to be adopted by Turkey with the Libyan oil companies operating in Libyan oilfields, adding that the "other side has been positive about this proposal".