Turkish Petroleum

Turkish research vessel Oruç Reis has arrived off the coast of Somalia to conduct seismic surveys for oil and natural gas, Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Oct. 25.

"Oruç Reis has reached its mission location after its journey across continents," Bayraktar shared on X.

Underwater robots, nearly 80 percent of which are produced in Türkiye, are used for marine archaeology, by the coast guard and in natural gas and oil exploration works.

An additional natural gas trade agreement of 11 billion cubic meters to run until the end of 2024 has been agreed upon between Azerbaijan and Turkey, according to Turkey's Minister of Energy and Natural Resources Fatih Dönmez on Oct. 15. 

Turkey and the Turkish Republic of Northern Cyprus (TRNC) signed two cooperation protocols on April 29 to meet the energy needs of the TRNC.

The Turkey Wealth Fund (TWF) is subject to very strict and thorough audit, Vice President Fuat Oktay has said.

Replying to opposition criticism about the debt ratio of the fund during a parliamentary debate on the 2021 budget, Oktay said on Dec. 16 that claims that the TWF is not being audited are wrong.

The acquisition of a 10% share in Turkish stock exchange Borsa Istanbul by the Qatari state Investment Authority was completed on Nov. 30.

According to a statement from the Turkiye Wealth Fund (TWF), the transaction size of $200 million implies a total equity value of $2 billion.

Turkey's ambassador to Greece told Greek diplomats on Monday that his country's positions on the Eastern Mediterranean, the demarcation of maritime zones, the Cyprus issue, hydrocarbon exploration and Libya are "well-known and transparent" and "within the bounds of international law," according to Turkish diplomatic sources.

Greece's Foreign Ministry on Monday summoned the Turkish ambassador to deliver a demarche over the publication in the Turkish government's gazette of Turkish Petroleum's (TPAO) applications for an exploration permit in areas of the Greek continental shelf, diplomatic sources said.

Greece said on Monday the publication in the Turkish government's gazette of Turkish Petroleum's (TPAO) applications for an exploration permit in the eastern Mediterranean were another step in Ankara's efforts to "usurp Greece's sovereign rights."

State-run oil firm Turkish Petroleum has submitted an application to start drilling in parts of the eastern Mediterranean outlined in the country's contentious maritime borders agreement with the Libyan government in Tripoli, Energy Minister Fatih Donmez said on Thursday.