Turkish Petroleum to drill in Libya

Nov 21, 1999 01:00 AM

Turkey's national oil and gas company has reached an agreement with its Libyan counterpart to explore and drill oil in the North African country. Under the agreement, the Turkish Petroleum Corporation (TPAO) will work in 2 of the 12 fields which Tripoli opened for exploration in 1995, the agency said.
The Libyan parliament is expected to ratify the agreement within three months, the agency said without specifying when it struck. TPAO is expected to conclude exploration within three years. If the results are positive, TPAO will start crude oil production, the agency said. It did not cite figures for the shares which the company will hold.

Turkey and Libya have long been at odds because of Libyan leader Moamer Gadhafi's vocal criticism of the Ankara government and particularly of its policies regarding Kurdish rebels fighting for self-rule in the country's south-east. Bilateral relations have also suffered because of Tripoli's failure to pay millions of dollars in arrears to Turkish contractors who undertook construction projects in Libya in the 1980s.

Source: AFP via Iinoil
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