Turkish Energy Minister: We hold a 40% stake in two Libyan oilfields

Turkish Minister of Energy and Natural Resources Alparslan Bayraktar said that Ankara is exploring opportunities for cooperation in Libya, whether in new oil fields or existing projects, through direct operations or partnerships. The minister made the remarks during the launch of the Turkish drilling vessel “Çağrı Bey” from Taşucu Port in Mersin province in southern Turkey, heading to Somalia to conduct energy exploration activities. In his speech at the ceremony, he described the event as a historic moment, marking Turkey’s first mission to search for oil and natural gas in deep waters outside its own seas, according to Turkish media reports on Monday. Regarding the recent tender held in Tripoli, he added: “Last Wednesday, as part of a new licensing round organized in Libya, we obtained oil and gas exploration rights in two fields, one offshore and one onshore.”He said that Turkish Petroleum will conduct exploration activities in Libya together with its Spanish partner Repsol, adding: “We hold a 40% share in both fields, and all these steps are part of our overseas growth strategy.”He also noted that Turkey signed major strategic agreements with ExxonMobil on January 8, Chevron on February 5, and BP last Thursday, and plans to sign another agreement next week with an international company for partnership in offshore areas abroad. He explained that the goal is for Turkish Petroleum to reach production of nearly 500,000 barrels of oil and gas by 2028.

February 17, 2026 21:37 UTC


LFB recovering funds in several locations secretly to protect the funds and process: LFB Chairman Addarrat

The Chairman of the Libyan Foreign Bank (LFB), Mohamed Ali Addarrat, affirmed that “protecting its assets and recovering its receivables abroad has been among the bank’s top priorities in recent years.”He claimed that “significant efforts have been made, resulting in the recovery of funds in several locations, while maintaining full confidentiality of the procedures to ensure their integrity and protect the funds under investigation.”In an exclusive interview published by the Arabic language Arabi21.com last Sunday (15 February), on the sidelines of a visit to Istanbul last week, Addarrat stated that “the issue of recovering funds is characterized by legal complexity and international entanglements. It includes looted funds subject to specific legal processes, funds frozen under international resolutions, as well as debts and investments dating back to previous periods.”In a related context, Addarrat emphasized that “any progress in the asset recovery process must be accompanied by a clear vision for reconstruction, as it is not merely about construction projects, but rather a comprehensive rebuilding of the economy.” He pointed out that “Libya has long suffered from a lack of genuine investment in infrastructure, which has led to the deterioration of vital sectors that directly impact the lives of citizens.”

February 17, 2026 08:59 UTC


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