First of all something which has not primarily to do with the Topic... After this i will return to topic. http://www.tpao.gov.tr/rprte2/JOINT.HTM a actual turkish link saying that Drilling works began in 20 June 2005. And Oil production will start in 2006. These found petroleum fields will ensure Turkey's Oil needs for 40 - 50 Years. http://www.cnnturk.com.tr/EKONOMI/GENEL/haber_detay.asp?PID=40&HID=1&haberID=84047 http://www.aksam.com.tr/arsiv/aksam/2005/03/31/ekonomi/ekonomi1.html There is expected more Oil and gas fields in Black sea, now companies searching for them. this old english links.... http://www.gasandoil.com/goc/company/cne40696.htm BP and TPAO expect to start drilling in eastern Black Sea 20-01-04 British Petroleum and Turkey's state-run oil company TPAO said they expected to begin drilling for oil off of Turkey's Black Sea coast by the end of the year. Officials said they were optimistic of striking oil, but did not say how much crude might be beneath the sea. BP Exploration and TPAO have completed seismic surveys off the coast of the eastern port city of Rize and planning is underway to begin drilling in December. Turkish Energy Minister Hilmi Guler said Turkey "was hoping to find oil in the Black Sea" to help meet the country's demands. Turkey currently produces 39,000 bpd of oil, less than 15 % its consumption. BP Exploration company vice president Hugh McDowell said that experts "don't know how much oil is there.... Only after you drill the well you can get sufficient information to tell you how much the potential there really is." Oil officials have suggested in the past that for offshore drilling to be viable reserves of a few billion barrels and daily production of 150,000 barrels would be needed. BP has already spent some $ 25 mm on the project and expects to invest another $ 25 mm to $ 30 mm this year. http://www.gasandoil.com/goc/discover/dix33457.htm TPAO and BP find new oil reserves in Black Sea 17-07-03 Offshore oil reserves of a few billion barrels of oil near the Black Sea coastal towns of Trabzon and Rize have been found, following studies by the Turkish petroleum monopoly (TPAO) and British Petroleum (BP). Turkey and England will be sharing the oil half and half. The target is to produce 150,000 bpd of oil. Turkey currently produces 36,000 bpd of oil. According to the companies, satellite photos indicate the presence of oil reserves beneath the Black Sea. BP spent $ 22.5 million on the two-dimensional seismic searches. A Norwegian ship, Ramform Challenger, will be in the Black Sea to do a further six week search. BP and TPAO officials at the Ciragan Palace, Ministry of Energy and Natural Sources Hilmi Guler stated the significance of the find for both Turkey and Britain. TPAO General Director Osman Saim Dinc said that the monopoly watched every step of the search very carefully. He points out that Turkey's share of the oil in Azeri Guneshli and Shah Deniz in 2005, which is to be transferred to Ceyhan, is equivalent to Turkey's entire current oil production. Dinc said that in 2008, this share would double domestic production. BP Exploration company Turkey Director Tahir Uysal noted that, according to studies, the oil reserves are located near the Trabzon and Rize seashores. BP has been in Turkey for 92 years and has invested $ 1.5 bn. BP Exploration company Vice President Hugh Mcdowell said that although the stated volume of the oil reserves in the Black Sea was just a speculatory figure, the company expected to produce 150,000 bpd.