Türkiye is set to launch new oil and gas exploration projects in Libya, Iraq, and Somalia as part of a broader push to lessen its dependence on imported energy, according to Energy Minister Alparslan Bayraktar.
Speaking on Tuesday, Bayraktar confirmed that the state-run Turkish Petroleum Corporation is actively pursuing exploration opportunities not only in Libya but also in Iraq, Somalia, and Azerbaijan. He emphasized that these efforts are aligned with Türkiye’s long-term strategy to diversify its energy sources and boost domestic output.
As part of this initiative, Türkiye is also considering expanding its liquefied natural gas (LNG) partnerships to ensure more affordable and secure energy supplies.
Coinciding with Türkiye’s announcement, Libya’s National Oil Corporation (NOC) promoted investment prospects in its energy sector during a recent event in Istanbul. The NOC revealed plans to open bidding for 22 onshore and offshore exploration blocks in a new international licensing round.
Libya aims to ramp up its oil production to 2 million barrels per day by 2027 and is inviting global companies to invest in its largely untapped reserves and energy infrastructure.