2026 Will Be the Year of Energy Cooperation Between Türkiye and Libya

Minister Bayraktar made statements to Anadolu Agency (AA) in Tripoli, the capital of Libya, within the scope of the Türkiye-Libya 22nd Joint Economic Commission (JEC) Meeting and the Libya Energy and Economy Summit. 

An Important Visit

Noting that the visit to Libya was important in many respects, Bayraktar said he met with Libyan Prime Minister Abdulhamid Dbeibeh and that the 22nd Türkiye-Libya Joint Economic Commission (JEC) meeting was held for the first time in 17 years. 

A Milestone Year for Negotiations

Minister Bayraktar stated that the trade volume between Türkiye and Libya reached approximately $4.4 billion in 2025, adding, "We will increase this to over $5 billion in 2026. To go even further and achieve the goal set by our President, we need to put energy at the center of this endeavor. We have been in negotiations with Libya for a very long time. In this sense, I can say that 2026 will be a milestone year. Because we are working on this cooperation from many different angles."

We Will Begin to See Concrete Results

Stating that Turkish Petroleum has been working on fields it previously operated in Libya, Bayraktar said, "We are negotiating agreements related to new fields. We will continue our work through international cooperation, particularly through partnerships with international oil and natural gas companies operating in Libya. We will begin to see concrete results in 2026. In this sense, it will be a year of energy cooperation between Libya and Türkiye, and the trade volume will reach much higher figures."

We Can Move Very Quickly

Minister Bayraktar, indicating that Türkiye is interested in Libya's oil and natural gas fields, which are being put up for tender for the first time in approximately 17 years, said, "We will also participate in the tenders to be held in February. In cooperation with international companies, we are particularly interested in two fields, especially in the offshore and onshore areas. If we can secure a share in these fields through these tenders in February, we will work very quickly. In this regard, what we have told both our partner companies and the Libyan government is that Türkiye, with the experience it has gained in the seas in recent years and the strength of our naval fleet, can move very quickly in both seismic and drilling operations. Within this framework, we will contribute to both Libya's development and the advancement of cooperation between Türkiye and Libya."

We Can Begin Seismic Work

Recalling the agreement signed last June between Turkish Petroleum and the Libyan National Oil Corporation in Libya, Bayraktar said, "We actually made a seismic agreement to evaluate the data we collected here and to carry out additional work in Libya's offshore fields. We can start these seismic studies in 2026. As in Somalia, we first completed the seismic survey there, and now we will send our newly added vessel to our fleet in February and begin drilling operations around April. Similarly, after completing the seismic surveys here, we will proceed to the drilling phase if we can reach an agreement."

We Will Continue to Make Agreements

Bayraktar also commented on Türkiye's work with international energy companies. Recalling that an agreement will be signed with the US company Chevron, Bayraktar said, “We plan to sign it in Istanbul around February 5. After that, we will continue to make international agreements.”

New Growth Strategy

Bayraktar stated that Türkiye is focusing on overseas activities in addition to domestic oil and natural gas exploration and production efforts, saying, "Our new growth strategy, which will begin this year, includes a growth target abroad. We are looking at opportunities through partnerships or independently under the operation of Turkish Petroleum. We have agreements in this regard. We have obtained licenses for three offshore fields and two onshore fields in Pakistan. We have projects we are working on to finalize in Libya. Two days ago, we met with KazMunayGas from Kazakhstan in Türkiye. We are also engaged in intensive work related to three fields there. God willing, we will finalize these, sign the agreements within this year, and begin work."