August 29, 2008

Turkish Petroleum to Drill New Oil Wells in Black Sea

Text of report in English by Turkish semi-official news agency Anatolia

Istanbul, 29 August: State-owned Turkish Petroleum Corporation (TPAO) is set to drill seven or eight new, deep oil wells in the Black Sea, TPAO Chairman Mehmet Uysal said on Friday [29 August].

"TPAO projects to drill new wells in the five-year period between 2009 and 2014. These works would cost around 150-200m US dollars," Uysal told the Ninth Energy Arena, an international conference held in Istanbul.

TPAO chairman estimated that Turkey could have problems in energy supply in the middle of next decade, adding that Turkey would pay 700bn US dollars for oil and natural gas in the next 13 years.

"TPAO intensified exploration works in seas. The Salt Lake (in central Turkey) would be the region to focus on," Uysal said.

Originally published by Anatolia news agency, Ankara, in English 1242 29 Aug 08.

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