Business | Oil & Gas
Turkey set to launch tender for offshore exploration
Turkey will launch an international tender for undersea oil exploration in the eastern Mediterranean, a senior oil official said yesterday.
- AP
- Published: 00:00 March 15, 2007
Athens: Turkey will launch an international tender for undersea oil exploration in the eastern Mediterranean, a senior oil official said yesterday.
The decision is likely to upset the government of Cyprus, which last month opened a bidding process to licence offshore oil and gas exploration in the eastern Mediterranean. It was not clear whether the exploration sites will overlap, but a dispute over rights to undersea energy resources has heightened tensions between the countries.
Turkey has sought to disrupt Cyprus' plans, warning Egypt and Lebanon not to mark out sea boundaries with the island nation necessary for exploration to proceed.
Osman Dinc, head of Turkey's state oil company TPAO, told the state-run Anatolia news agency that Turkey will open bidding later this month and that Turkey would start exploration with foreign partners in the shallow waters of the Mediterranean in July or August.
Dinc also said Turkey will carry out seismic studies west of Cyprus between the coasts of Turkey and Egypt this spring and summer, a decision which could further annoy Cyprus.
Turkey does not recognise the island's Greek Cypriot government and says it has a right to conduct oil and gas exploration in the international waters between Turkey and Egypt.
Turkey also says that Turkish Cypriots living in the breakaway republic in the island's north should have a say in the island's oil-and-gas rights.
Cyprus has ignored the warnings, saying its exploration deals with Egypt and Lebanon would go ahead.
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