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Turkey to Explore for Oil in Libya Accord Waters Within 4 Months

Turkey to Explore for Oil in Libya Accord Waters Within 4 Months

(Bloomberg) --

Turkey’s planning to start oil exploration within maritime borders set by an accord with Libya’s internationally recognized government in three to four months, state-run Anadolu Agency cited Energy Minister Fatih Donmez as saying on Friday.

The new “Kanuni” drilling ship will sail into the Mediterranean for its first mission this year, Donmez said.

Turkey to Explore for Oil in Libya Accord Waters Within 4 Months

The eastern Mediterranean has become an energy hot spot with big finds for Cyprus, Israel and Egypt in recent years, and Turkey is now determined to secure a share of critical assets. A maritime agreement signed in November with Libyan Prime Minister Fayez al-Sarraj’s administration prompted Turkey to claim rights to parts of the seabed that Athens says is Greek under international law.

Turkey supports Sarraj’s government in its conflict against eastern-based military leader Khalifa Haftar, who is backed by countries including Egypt and the United Arab Emirates.

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