Ankara wishes to see SOCAR engaged in Mediterranean energy rush

Turkey has extended an invitation to the State Oil Company of Azerbaijan (SOCAR) to explore offshore oil and gas reserves off the Mediterranean and Black Sea coasts of Turkey, which the Azeri oil firm is to consider and decide upon by the end of this year.

“Azerbaijan can search for oil and natural gas in our waters,” Turkey’s Energy and Natural Resources Minister Taner Yildiz said on April 8 after a one-on-one meeting with SOCAR President Rovnag Abdullayev.

Yildiz, who is currently in Azerbaijan to attend the World Economic Forum, said they could carry out a partnership with SOCAR just as they had been doing with several international oil firms which explored oil and gas in Turkish seas.

According to Turkey’s deals with exploration companies, if the company reaches any resources the output is shared between the firm and the Turkish state but in the event that the searches fail to find anything, all the expenses are undertaken by the private company.“For these searches Turkey hasn’t paid a penny,” Yildiz said. Turkey would appreciate undertaking exploration operations near the southern provinces of Iskenderun, Mersin and Antalya with SOCAR under the same scheme, the minister asserted.

He added that they would also like to carry out joint projects with Azerbaijan in third countries.
Abdullayev said the company was evaluating the Turkish offer and that it would make a decision in approximately six months, or by the end of this year at the latest. Considering SOCAR’s 60-year-long experience in oil exploration in the Caspian Sea, it is capable of these operations, he said.

Mediterranean Sea has been watering the neighboring countries’ mouth as Greek Cyprus and Israel as well have been seeking to obtain resources there through deals with international firms. Lately, Egypt joined them as it has announced it will hold a tender for energy drilling in the Mediterranean Sea.


/HurriyetDailynews/