DirectorGeneral of Turkish Petroleum Corp (TPAO) Mehmet Uysal says TPAO has plans ofoil exploration for Aegean and Mediterraneanin 2007 to lessen dependence to imports.

 "We produced 23 million barrels of oil in 2006, and our target is33 million barrels in 2007" said Mehmet Uysal, acting director general ofTurkish Petroleum Corp. (TPAO), on Wednesday.

Mehmet Uysal delivered a speech at the 6th Turkey International Petroleumand Natural Gas conference, where he informed the participants about theactivities and targets of Turkey'snational oil & natural gas company, TPAO.

 Uysal stated that TPAO has produced 70,000 barrels of crude per day in2006, and it is targeting to reach 96,000 barrels/day in 2007.

 "Our investment target for 2007 is 800 million USD. We produced23 million barrels of oil in 2006, and we target 33 million barrels for 2007.Our target for 2015 is 300,000 barrels/day" said Uysal.

Uysal reminded that Turkeyhas to pay 460 billion USD petroleum and gas bill in the coming 15 years andstressed the importance of exploration to lessen dependence to imports.

Invitation

"TPAO has plans for Aegean and Mediterranean in 2007" said Uysal,adding "we will rent out TPAO licenses (for exploration) in the Mediterranean. We already invited petroleumcorporations."

 Informing on the explorations in the southeast Anatolia,Mehmet Uysal said, TPAO found oil in 14 wells it drilled by the Syrian border,and 2,000 barrels of oil/day is produced from these wells.

AA