Libya and Turkey Sign MoU for 10000 km Offshore Exploration Program
Libya's National Oil Corporation (NOC) and Turkish Petroleum Corporation (TPAO) have signed a Memorandum of Understanding (MoU) in Istanbul, marking a pivotal step in offshore exploration collaboration. The agreement was officially signed by NOC Chairman Eng. Masoud Suleman and TPAO General Manager Mr. Ahmet Turkoglu.
The MoU outlines TPAO's plans to conduct comprehensive geological and geophysical studies across four offshore areas. Key activities include the acquisition of a 10,000-kilometer 2D seismic survey, with data processing expected to be finalized within nine months. This partnership aims to bolster exploration efforts by leveraging the expertise of both companies in oil and gas development.
The strategic cooperation between Libya and Turkey highlights a shared commitment to unlocking offshore energy potential and fostering mutual growth in the hydrocarbon sector.
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