Drillship Deepwater Champion specially contracted by U.S. energy company Exxon Mobil set sail on Sunday to come to Black Sea.
Mehmet Uysal, Director General of Turkey's petroleum company, TPAO, said Deepwater Champion was constructed in dockyards in South Korea and expected to be in Bandirma province of western province of Balikesir in the first half of March.
"They are planning to start explore deepwater prospects off the shores of Kastamonu by the end of March or beginning of April," Uysal said.
Uysal said approximate water depth in the Black Sea was 2,000 meters, noting that, "our target depth varies between 3,500 meters or 4,500 meters. Total drilling will reach to 6,500 meters there".
TPAO Director General said Exxon Mobil committed to drill two wells in the Black Sea, adding the first well will be drilled off Kastamonu shores. "The company may drill the second well according to the results it will obtain," he noted.
"This ship will make its first drilling in Turkey. Average cost of drilling in the Black Sea is 200 million USD. Under the agreement signed with Exxon Mobil, it will meet all the drilling costs. In case oil can be explored, TPAO will join the investments. Exxon Mobil will get its expenses from the oil that will be taken out," he said.
Deepwater Champion is constructed by Exxon Mobil in shipbuilding yards in South Korea with the recent technology.
Erdogan says western powers 'ignore' terrorist actions perpetrated by armed wing of PKK’s Syrian affiliate
Iraqi citizens will no longer be able to enter Turkey with a sticker visa, and instead will need to apply for an electronic or paper visa
'I find this Russian statement laughable... rather it is Russia that is currently engaged in an invasion of Syria,' Turkish president says
Plan includes 'comprehensive democratic reform', greater powers for local administrations and economic measures
Erdogan says Syrians will continue to flee country unless Russian and regime airstrikes cease
Leaders of governments, NGOs and members of civil society met in London on Thursday to raise funds for those affected by crisis in Syria
MPs from all parties meet to reform Turkey’s military-era constitution
‘We have to be shoulder to shoulder against those who are committing war crimes,’ PM Davutoglu says at Syria Donors Conference in London
Turkey recalled its ambassador in April last year, days away from the 100th anniversary of what the pope described as 'the first genocide of the 20th century'
'An agreement could not be reached on the itinerary for the reconnaissance flight requested by the Russian Federation for 2-5 February 2016,' foreign ministry says
Premier Davutoglu identifies ISIL, PKK, far-left DHKP-C as threats to security
Turkey has decided to introduce a visa regime for Russian journalists starting February 15
Notes made my PKK leader Ocalan during peace talks have been published, in which he takes aim at the group who have armed themselves.
Meskhetian Turks -- who have faced repeated deportations and separations -- share their hopes for a better life in Turkey
Reduction will be between 13.3 and 15.8 percentage, Turkey's energy minister says
'Turkey has opened its doors without distinction to more than 2.5 million Syrian and Iraqi refugees. So far, the amount we have spent surpasses $9 billion,' Turkish president says