The 4th Exploration – Generation Sector Briefing Meeting (SCOUT Meeting),
was organised by the Petroleum Platform Association (PETFORM) in Ankara, on
Tuesday, 30 June 2015. Selami İncedalcı, the Director General of the State’s Petroleum
Affairs, stated that as a result of the increased exploration applications for
oil and natural gas, a total of 186 applications had so far been made in the
period which began in June 2014. İncedalcı, said that a total of 37 companies –
25 of whom were local and 12 foreign – had made applications, and following the
Turkish Petroleum Legislation and Implementation Regulations which became
effective in January 2014, a total of 129 exploration licenses had been
awarded.
A total of 74 licenses, for 8 years each are at off-shore, while a total of
55 licenses, for 5 years each, are on-shore. The companies have provided an
undertaking to invest around USD 1.5 billion for these licenses.
Selami İncedalcı, the Director General of PİGM
also stated that the fall in
Brent oil prices by approximately 50% to around 62 dollars, had caused a
decline in exploration investments both in Turkey and throughout the
whole
world, but underlined his belief that Turkey would be able to respond to
thisdecline within a very short period of time, as a result of its
projects and
licenses.