Lack of Finances Thwarts Turkey’s Oil Exploration

According experts’ information, sea exploration is also hindered by diplomatic problems experienced in international waters. Only 20 percent of the areas that have likely oil and natural gas reserves have been explored over the past 50 years.

Department Chairman of Petroleum and Natural Gas Engineering at Istanbul Technical University (ITU,) Prof. Abdurrahman Satman, noted the high cost of oil exploration in the seas and the fact that the Greek National Oil Company struck out for the oil in the Aegean with the help of the Unites States. Satman underlined the fact that only 20 percent of the total areas have been explored so far in Turkey.

Istanbul University (IU) Geology Engineering Faculty Samil Sen said that, outside of the Black Sea, oil and gas exploration have also been conducted with foreign partners in the Mersin and Iskenderun bays. Stressing that the Black Sea, as an inner sea, enables the formation of the oil with its tectonic structure, Sen said: "All of the regional geological data indicates that there might be oil there. For the Black Sea, which has rich hydrocarbon supplies in land searches, no solution has been reached; however there is still hope for the sea."

Statements by American experts that indicate the belief that there could be oil and natural gas in the Aegean sea along side the Izmir Alacati to Gokceada corridor, has brought oil exploration and continental limits to the agenda. Resigned General Gokmen Kececi stated that he had presented a report about oil in the Aegean to the Chief of General Staff and Foreign Minister. Assigned as attache to Norway in 1975, Gokmen Pasha had met with the representative of the Aker Group, one of the three big oil exploration companies at the time. He said that officials had shown him aerial photographs of Turkey and had told him that there was oil in the Aegean, Kececi added that he had prepared a report out of the data obtained, and had presented it to the appropriate offices.