Turkey’s state-run oil company is set to start drilling for oil and gas in the Turkish Republic of Northern Cyprus (KKTC) on Thursday under an agreement signed in September 2011.
The Turkish Petroleum Corporation (TPAO) will begin drilling at a field in Gazimağusa on Thursday following a ceremony to be attended by Turkish Energy and Natural Resources Minister Taner Yıldız as well as KKTC President Dervis Eroğlu and Prime Minister İrsen Küçük. TPAO has said it plans to drill as deep as 3,000 meters at the well, which has been named Türkyurdu-1. Under an agreement signed by Turkish Prime Minister Recep Tayyip Erdoğan and Eroğlu on Sept. 21, 2011, TPAO will be able to conduct three-dimensional seismic research and onshore and offshore drilling around the KKTC more actively. The agreement follows a Greek Cypriot move to start offshore drilling for natural gas and oil in the southeast of the Eastern Mediterranean island.
On Sept. 22, the KKTC Cabinet gave an exploration license to TPAO to investigate oil and natural gas opportunities around the Cypriot island.