Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

OIL AND GAS EXPLORATION IN TURKEY WILL CONTINUE

29/05/2014 by

W1siziisijiwmtqvmtavmjgvmtuvndavmzevodi2l2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Turkey spent around one billion US dollars in oil and gas exploration in 2013, Turkish Energy Minister Taner Yıldız said on Thursday.

Oil exploration will continue, said Yıldız adding that he believes oil will be found.

Speaking during a meeting organized by Petroleum Platform Association (PETFORM), in Ankara, Yıldız said; “we are determined to provide investment incentives for the oil and gas sector. Oil and gas imports are far higher than we anticipated and we target a level of oil and gas production that may satisfy half of our annual consumption”.

Domestic reserves of oil and gas can only meet ten percent of Turkey’s current annual consumption. Turkey relies on costly energy imports to fuel its growing economy and is always striving to find new energy sources. Energy imports are one of the main causes of country’s US$ 60 billion trade deficit.

Turkey produced 26 million tons of crude oil and 8.4 billion cubic meters of natural gas during a 12-year-period, said Energy Minister Yıldız. “We must stubbornly keep on exploring on and off-shore.”

Turkey’s state owned TPAO, the company responsible for oil and gas exploration activities, invests heavily in local fields and exploration projects in Middle East, South America and Black Sea region. The fields in southeastern Turkey are the main source for oil and gas production.

The minister said a new deal will be signed in Istanbul for Caucasian resources, but refused to give further details on the deal, raising expectations of an energy deal for the region’s hydrocarbon riches, which will help Turkey in its bid to become an energy hub.

This article has been extracted from http://www.dailysabah.com, please click on this link to read the article in full http://www.dailysabah.com/energy/2014/05/29/oil-and-gas-exploration-in-turkey-will-continue

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdivmtuvmtyvntivmjuvnzkwl2n5ymvyigf0dgfja3muanbnil0swyjwiiwidgh1bwiilcizodb4mtawiyjdxq

UK threatened by serious cyber attacks every ...

2017-02-15 16:00:00 +0000

The security of the UK has been threatened by 188 serious cyber attacks in the last three months, a government security chief has said. National Cyber Security Centre (NCSC) Chief Executive Ciaran Martin told The Sunday Times that national security was put at risk by many of these attacks. Martin was speaking ahead of the official opening of the NCSC, which has been set up to protect critical services in the UK from such attacks and improve underlying i...

W1siziisijiwmtcvmdivmdgvmtavmzcvmzkvnjkyl0n5ymvyifnly3vyaxr5lmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

British cyber security workforce rises 163%

2017-02-08 10:00:00 +0000

Data from the UK has shown that the cyber security workforce has grown considerably over the past five years. According to a new report from cyber skills promotion network Tech Partnership, there are now 58,000 more workers in this industry – a rise of 163 per cent. It shows the growing importance of these professionals, with firms across a vast range of industries turning to cyber security specialists to safeguard their data. To collate the report, the...