Tripoli: Trkiye’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.
According to Anadolu Agency, Turkoglu expressed confidence in Libya’s ambition to boost oil production to 2 million barrels per day and highlighted TPAO’s readiness to commit significant investments to the country’s energy sector. He noted that despite past challenges, TPAO is prepared to rebuild relations and invest billions of dollars in Libya’s potential.
Turkoglu identified Libya’s offshore energy sector as a promising area for exploration and development, pointing out the opportunities in existing fields and brownfields. He emphasized TPAO’s interest in securing contracts for both new exploration blocks and existing ones to enhance performance and efficiency.
Furthermore, Turkoglu called for transparency and competition in Libya’s energy market to attract foreign investment. He stressed the importance of creating a win-win environment to support both Libya’s economic growth and investor interests. Despite the challenges faced by foreign investors, Turkoglu expressed optimism about the future of Libya’s energy sector, contingent upon the establishment of a balanced and beneficial environment for all parties involved.