Economy • 28 September, 2018

Turkey to create new company for oil and gas exploration abroad

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A new company will be established in Turkey, to explore oil and gas abroad, the Deputy Minister of Energy and Natural Resources of Turkey, Mithat Cansiz wrote on his Twitter microblog.

Cansiz noted that work is currently underway to establish the company, wrote

"The new company will be engaged in oil and gas exploration in Central Asia and Africa," Cansiz said.

The law permitting oil exploration in forests and national parks came into force in Turkey in April 2014.

According to the report of the ministry, a total of 56 wells have been drilled as part of exploration of new oil and gas fields in Turkey since 2014, of which 54 are onshore, and two are offshore.

In 2017, 1863 exploration projects were carried out in Turkey to search for new oil and gas fields.

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