Hungary's MOL Group is entering Libya's upstream sector through a joint offshore exploration venture with Repsol and Türkiye Petrolleri A.O., marking its latest move to expand its international footprint. Repsol will operate the project with a 40% stake, TPAO will hold 40%, and MOL will take a 20% interest. The deepwater Mediterranean setting plays to the offshore experience of the consortium partners, particularly Repsol and TPAO. MOL has recently signed cooperation agreements with national oil companies in Kazakhstan, Azerbaijan, Türkiye, and Libya. The deal also deepens energy ties between Libya and Türkiye, which has steadily increased its economic footprint in North Africa, particularly in offshore development and infrastructure.

Source: Libya Today February 11, 2026 17:02 UTC