Turkey initiates to meet energy needs from own resources

Turkish Energy Minister said that Turkey, which was an importer country in terms of energy, should be able to meet its needs from its own resources.

Turkey initiates to meet energy needs from own resources

Turkish Energy Minister Taner Yildiz said on Saturday that Turkey, which was an importer country in terms of energy, should be able to meet its needs from its own resources.

Speaking at a press conference regarding the oil exploration process to be initiated in the Black Sea with the cooperation of Turkish Petroleum Corporation (TPAO) and Brazilian state oil company Petrobras, Yildiz said that nearly 90 percent of Turkey's oil and natural gas was imported from other countries.

"The only way to prevent this is to carry out activities regarding oil and natural gas exploration in order to develop domestic resources," Yildiz said.

Noting that the cooperation between TPAO and Petrobras started nearly 4 years ago, Yildiz said TPAO would become a company that drilled oil and reached natural gas by the year 2020.

Upon a question on the expected contribution of the oil drilling process to Turkey's economy, Yildiz said, "This is an exploration process and we may not reach oil or natural gas in the end. However, the data we have provided so far indicates that we need to carry out such a study. If we reach these resources, it will refer to a figure which amounts to at least 20 percent of Turkey's imports".

Replying to a question on the structure of the partnership between TPAO and Petrobras, TPAO's Director General Mehmet Uysal said that all the costs would be covered by Petrobras during the exploration process and the Brazilian company would get its expenses back if oil and natural gas were found in the region.

Uysal also said that production investments would be shared by the two companies.

Speaking at the press conference, Cecile Lansverk, Norway's ambassador in Ankara, said that he was proud to see the Norwegian technology on Turkish waters.

Lansverk said that "Leiv Eiriksson", the oil drilling platform to be used in Black Sea, had proven its success in deep waters of many countries and it had managed to find oil in 85 percent of its drilling activities.

Moreover, Fernando Nobrega, Acting Director General of Petrobras, said that working at "Sinop-1" well would be a struggle for his company.

In April 2009, state-owned petroleum companies, Turkey's TPAO and Brazil's Petrobras, signed an agreement for the exploration of oil in the Black Sea.

The deep-water platform "Leiv Eiriksson", which set off from Norway months ago, travelled through the Straits and reached the Black Sea province of Sinop on Saturday.

The platform will stay in the region for five years.

Turkish officials are very hopeful about drilling operations in the Black Sea which is believed to have huge underwater oil and natural gas reserves.

Recent seismic researches estimate a 10-billion barrel oil reserve in the Black Sea.

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Last Mod: 03 Ocak 2010, 11:57
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