Turkey's national petroleum company, Turkish Petroleum Corporation (TPAO) began on land drilling for gas and oil in Türkyurdu- 1 in the Turkish Republic of Northern Cyprus.
Minister of Energy Taner Yıldız pointed out that this is the first land breaking for an exploration well in Northern Cyprus and states, "We may not extract gas or oil form this well however this is part of working to create an entire subsurface map of TRNC."
Yıldız went on to refer to preparations by the Greek Cypriots to put 12 parcels from the southern region up for tender, by stating, "From an international legal perspective, the areas in the region where the Greeks want to work conflict with our licenses obtained from Northern Cyprus. Some of the areas may conflict. We hope that technical efforts will be made in order to ensure there is not tension."
According to TRNC President Derviş Eroğlu the initiation of drilling is an "indicator that the Turkish Republic of Northern Cyprus has not backed down from its economic, social and political rights."
400 MILLION DOLLARS
TPAO General Manager Mehmet Uysal explains that it cost 12 million dollars to open the well they have begun drilling. Uysal says that they will be conducting two dimensional seismic exploration in 10,000 kilometers and three-dimensional in 1,500 kilometers. Uysal also noted that the entire cost of drilling will reach 400 million dollars and added that 250-300 million dollars of the figure includes sea exploration.
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