Türkiye's TPAO Explore Investment Opportunities in Libya's Energy Sector

Photo: Anadolu Agency

Türkiye's TPAO Explore Investment Opportunities in Libya's Energy Sector

Türkiye's state-owned Turkish Petroleum Corporation (TPAO) is ready to invest in Libya's energy sector, banking on the country’s vast untapped resources, General Manager Ahmet Turkoglu said Sunday.

Speaking at the Libya Energy and Economic Summit (LEES) 2025 in Tripoli at a panel titled "Libya: At the Nexus of the Global Energy Trade," Turkoglu underscored TPAO’s renewed interest in Libya as part of its global expansion strategy, The Caspian Post report, citing Turkish media.

“We are here because we see great potential,” Turkoglu said, citing the North African nation's ambition to boost oil production to 2 million barrels per day. “I am sure Libya will achieve much more.”

Turkoglu reiterated Ankara's confidence in Libya’s energy prospects, stating that TPAO is ready to commit significant investments.

“In the past, we invested but unfortunately had to leave. Now, we plan to rebuild relations and are ready to invest billions of dollars in this great potential,” he said.

He highlighted Libya’s offshore energy sector as a promising area for exploration and development, describing existing fields and brownfields as holding immense opportunities.

“We believe in offshore potential. Current fields and brownfields have great opportunities for investment. We are ready to invest in this potential,” he noted.

Turkoglu also said TPAO is prepared to secure contracts for both new exploration blocks and existing ones to enhance their performance and efficiency.

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Türkiye's state-owned Turkish Petroleum Corporation (TPAO) is ready to invest in Libya's energy sector, banking on the country’s vast untapped resources, General Manager Ahmet Turkoglu said Sunday.