The “Memorandum of Cooperation on Hydrocarbons” signed today by the Turkish delegation in Tripoli, Libya, by Acting Prime Minister Abdulhamid Dbeiba, includes the following points, according to the Libyan News Observatory website:

• Cooperation in projects for the development and use of hydrocarbon resources (natural gas and oil).
• These projects may relate to the exploration, production, transportation, processing, distribution and trading of hydrocarbons.
• Production and trading of oil, natural gas, petrochemicals and petroleum products.
• Ensuring exploration, development and increase in hydrocarbon production from both sides.
• The parties agreed to ensure the implementation of comprehensive projects to enhance the development of land and sea resources.
• Projects include development and production.
• The Libyan Fund invites the Turkish Petroleum Corporation and its partners to participate in onshore and offshore projects in Libya.
• Libya guarantees the conclusion of agreements and contracts with the Turkish Petroleum Corporation for the implementation of oil operations.
• The parties call on the Libyan Oil Corporation and the Turkish Oil Pipeline Corporation to establish joint partnerships in the hydrocarbon sector.
• Both sides cooperate and support the use of exploration and drilling vessels used by the Turkish Pipeline Corporation and its partners for the exploration, development and production of current and future onshore and offshore hydrocarbon resources in Libya.
• The parties agreed to cooperate in the development and operation of existing or additional oil and gas pipeline systems in Libya.
• The parties should support the implementation of the projects of the Turkish Pipeline Corporation and its partners.
• This Memorandum of Understanding may be terminated by either party at any time with 3 months’ written notice.
• Termination of this Memorandum of Understanding shall not affect activities and projects that are already underway or are being implemented.
• The memorandum is written in Turkish, Arabic and English and all texts are considered equally authentic.
• In the event of any difference in interpretation, the English text shall prevail.