Turkish companies top choice for seismic surveys in Libya

TRIPOLI, Libya

Libyan Oil and Natural Gas Minister Mohamed Aoun said that Turkish companies are the top choice for seismic research in Libya.

"Due to the geographical proximity Türkiye has and the experience that Turkish companies have in the field of seismic research, priority will be given to Turkish firms,” Aoun told Anadolu.

The minister said that he requested the Libyan National Petroleum Corporation (NOC) to map out oil and natural gas discoveries.

“Oil and natural gas exploration activities have not been carried out in 30-40% of Libyan lands and seas,” Aoun said.

“No seismic studies have been carried out in those regions either,” he added.

Libya’s oil production

Aoun said Libya was excluded from the "decision to reduce oil production" taken by the Organization of Petroleum Exporting Countries (OPEC) last year.

He said: “Libya cannot reduce oil production due to its economic conditions.”

“Oil production in the country has stabilized since July 2022, and crude oil production has reached an average of 1.2 million barrels per day,” he added.

41 newly discovered fields

Aoun said that according to official data, 29 new oil fields and 12 natural gas fields were discovered.

The minister stated that the newly discovered fields could not be developed because of Libya's vast territorial waters.

Aoun expressed his hope for the exploration in the exclusive economic zones between Italy, Greece, Malta, Türkiye and Libya.

He said “it is not currently possible for Libya to increase its natural gas exports to European countries.”

“The power plants in the country can only meet domestic needs,” he added.

“When we increase our daily production to 2 million barrels, our oil exports to Europe will also increase,” he said.

Aoun also stated that according to research, Libya is the 5th country in the world in terms of shale oil and natural gas wealth.

*Writing by Ikram Kouachi