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Wednesday, May 12, 2010     GET REAL

Turkey orders South Korean rig to drill for oil
in Black Sea

ANKARA — Turkey is on track to expand crude oil exploration in the Black Sea.

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Officials said Turkey has ordered an oil drilling platform from South Korea to expand exploration in the Black Sea, believed to have reserves of 10 billion barrels of oil.

They said the platform, reported to cost $1.5 billion, would arrive in Turkey by early 2011.


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"This is a process only to drill oil from one well," Turkish Energy Minister Taner Yildiz said. "Such efforts are made only for an adventure in the Black Sea. When we find oil, another process will begin and it will take eight years."

Under a project headed by the state-owned Turkish Petroleum Corp., the South Korean rig would join another facility used in crude oil and natural gas exploration in the Black Sea in 2010. The current operations were meant to explore for energy at a edepth of 6,000 meters while the South Korean platform would reach 12,000 meters.



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