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.
Turkish President Erdogan has said that Turkey and Qatar stand together with the oppressed people of the world
Istanbul prosecutor asks court to issue arrest warrant for U.S.-based preacher Gulen in a probe. He was charged with “managing a terror organization", making person devoid of his freedom by using force, threat or trick and Causing any administrative or juridical sanctions except from jail for aggrieved by slandering him
Three Turks detained recently in Germany are not linked with Turkey's National Intelligence Organization, the Turkish foreign ministry says.
Turkey could begin training and equipping moderate Syrian opposition fighters before March
International conference hears call for more public transportation to beat congestion in Turkey's largest city
Istanbul Penal Court rules for the arrest of four people including Hidayet Karaca, chairman of the Samanyolu Media Group, and releases eight others, including Ekrem Dumanli, editor-in-chief of Zaman newspaper.
Government plans to allow companies involved in cancelled South Stream Pipeline project to begin feasibility studies anyway, to avoid having the government pay compensation
10 members of the PKK, 4 of whom under 18 years of age, surrendered to to authorities at Habur Border Gate of Turkey
Turkish dailies on Friday mostly covered latest developments in an ongoing investigation into the Gulen Movement...
Meeting's main purpose is to discuss mechanisms that enable the International Organization of Turkic Culture to act together
Support in Turkey for its EU membership hits lowest levels in years, according to survey
Deputy PM Akdogan has urged the media to take a clear position against all unlawful acts that target Turkish people's will
Erdogan is bent on being a more powerful leader and is taking Turkey further away from Western standards on law and free speech, with its strategic geography allowing its allies to give it leeway.
The testimony process began at noon Thursday, and lasted for about 11 hours. The court is due to issue an order about the investigation Friday
“This is a positive development,” Turkish foreign ministry spokesperson has said
The opening ceremony of Kademoon, meaning, "We are coming" has opened its doors in Esenyurt, giving hope to hundreds of children who have escaped the Syrian war for a brighter future.