Türkiye's state-owned oil company wins offshore, onshore exploration rights in Libya tender

ISTANBUL, Feb. 12 (Xinhua) -- Türkiye's state-owned oil company Turkish Petroleum (TPAO) has won the right to conduct offshore and onshore hydrocarbon exploration activities in Libya after submitting a bid in the country's latest oil and gas licensing round.

In a statement released on Wednesday evening, Turkish Energy and Natural Resources Minister Alparslan Bayraktar said the move marks a new phase in Türkiye's efforts to expand its energy exploration portfolio beyond its borders.

TPAO will conduct offshore exploration activities through a consortium formed with Spain's Repsol and Hungary's MOL Group, the minister said. The partnership will explore a block located off the coast of Benghazi in the Mediterranean, covering an area of around 10,300 square km.

The minister noted that Türkiye aims to combine its advanced exploration and production capabilities with the global field experience of its international partners to generate technically and commercially sustainable value in high-potential locations. Enditem