BAKU, Azerbaijan, Nov. 4
By Anastasiya Savchenko – Trend:
Turkey will increase spending on the development of the energy sector, Trend reports referring to the Turkish media.
Reportedly, spending on the country's energy sector will increase in accordance with the presidential program.
Ankara is expected to allocate over 13.9 billion liras ($2.4 billion) for the development of the energy sector in 2020.
The country intends to conduct hydrocarbon exploration in five regions in the country's offshore part, including northern Cyprus, in 2020.
Some 1,889 exploration wells were drilled in Turkey in 2018.
The total depth of exploratory drilling operations reached nearly 3 million during the reporting period. Nearly 2.3 million meters of 943 exploration wells were drilled by the Turkish Petroleum Corporation (TPAO).
The Turkish Mineral Research and Exploration General Directorate drilled 61 wells with a total depth of 92,599 meters while 167,303 meters of 144 wells were drilled by other Turkish companies.
Some 990,466 meters of 546 exploration wells were developed by foreign companies, while 195 wells by joint ventures and consortia.
As reported, 495 deposits were discovered by TPAO, eight deposits – by the Turkish Mineral Research and Exploration General Directorate, 21 deposits – by other Turkish companies, 304 deposits – by foreign companies and 91 deposits – by joint consortia from January through December 2018.
According to the report, 91,991 areas with hydrocarbons were discovered in Turkey as of 2018.
The law allowing carrying out oil exploration in forests and national parks entered into force in Turkey in April 2014.
(1 USD = 5.7291 TL on Nov. 4)
---
Follow the author on Twitter: @AnSav_2105