"THE BLACK SEA OIL FIELDS MAY MAKE TURKEY ENERGY INDEPENDENT
By Emrullah Uslu
Tuesday, June 17, 2008
In recent years Turkey has geared up its efforts to diversify its energy sources. The State Planning Agency estimated that there is a need for an $80 billion investment in the next 15 years to meet the country’s energy needs (Dogu Karadeniz Bolgesi Bolgesel Gelisme Plani Nihai Rapor, Cilt II: Ana Plan). One possible field that the Turkish authorities pay special attention to is the Black Sea drilling site. The president of the state-owned Turkish Petroleum Corporation (TPAO) said that “between 2007 and 2012, $87 billion is planned to be invested in the petroleum industry” (Hurriyet, August 17, 2006)."
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