Turkey begins exploratory drilling in North Cyprus

Turkey recently started exploratory drilling for oil and gas in the Turkish north of Cyprus, further fueling the debate over which country can exploit the potential resources of the Mediterranean Island.

The Associated Press reports the move by Turkey follows recent action by Greek Cypriots to begin a gas search off the island's shore. At the inauguration of the drilling activity by Turkish petroleum company TPAO, Turkish Energy Minister Taner Yildiz said that it was a symbolic beginning.

"We may not extract oil or gas from this well, but drilling is part of a wider package," Yildiz said. "This work has strategic significance and we attribute great importance to it."

Turkish Cypriot leader Dervis Eroglu added that the start of the drilling was a "historic moment," according to the AP.

According to The Wall Street Journal, the drilling was launched at the 3,000-meter-deep Turkyurdu-1 well, which is near the Greek Cypriot border.

Details on the Cyprus energy market can be found at PennEnergy's Research area.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs