ISTANBUL
Turkey's reserves of oil and gas might be much higher than previously thought, according to a U.S. exploration expert.
Turkey's geography is complex, and with regard to energy resources the country is underexplored because the number of exploratory wells drilled has been low, said Lee Muncy, vice president of Geosciences, part of the Texas-based TransAtlantic Petroleum Company.
Muncy attended the American Association of Petroleum Geologists conference on Monday.
Muncy said that only 4,400 exploratory wells have been drilled in Turkey since 1934. But the number in Texas, which is about the same size as Turkey, was 1,462,846 at the end of last year, he said.
Turkey has reserve potential not only onshore areas but also offshore, he said. But he said that only 1 percent of the offshore areas have been explored, an amount he called not even a start.
He described exploration in Turkey as in its infancy. He also said that old technology was being used in most of Turkey's exploratory efforts, but new technology could yield better results.
The TransAtlantic Petroleum Company does exploration and drilling in different countries such as Turkey and Bulgaria.
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