Libya’s eastern parliament is poised to let Turkey explore for energy in the North African nation’s waters, according to people familiar with the matter, in what would be a dramatic about-face that’s the latest sign of warming ties between Ankara and the region.
A consortium of Azeri state company Socar, BP Plc and Israel’s NewMed Energy LP will get the right to explore in one offshore block, in a signing overseen by Azerbaijan Economy Minister Mikayil Jabbarov and Israeli Energy Minister Eli Cohen, according to the Israeli energy ministry. The agreement gives Socar another foothold in important Israeli assets after the company bought a 10% stake in the Tamar gas field earlier this year.