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3/14/07

Gulfnews: Turkey set to launch tender for offshore exploration

For the complete report in the Gulfnews click on this link

Turkey set to launch tender for offshore exploration

Turkey will launch an international tender for undersea oil exploration in the eastern Mediterranean, a senior oil official said yesterday. The decision is likely to upset the government of Cyprus, which last month opened a bidding process to licence offshore oil and gas exploration in the eastern Mediterranean. It was not clear whether the exploration sites will overlap, but a dispute over rights to undersea energy resources has heightened tensions between the countries.

Osman Dinc, head of Turkey's state oil company TPAO, told the state-run Anatolia news agency that Turkey will open bidding later this month and that Turkey would start exploration with foreign partners in the shallow waters of the Mediterranean in July or August.

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