Turkey, Egypt to drill in Mediterranean: Minister

Egypt and Turkey may partner up to explore for oil and gas in the eastern Mediterranean Sea, Turkish Energy Minister Taner Y?ld?z said during an official visit to Cairo on Wednesday.

“Egypt and Turkey can work together on the fields of oil and [natural] gas, we evaluated this issue and need some more time [for further steps]. We can search together in the Mediterranean,” said Y?ld?z, not giving details on the project while speaking to journalists. The minister also emphasized Egypt’s experience in deep-water drilling.

The minister, who is currently in Egypt accompanying Turkish Prime Minister Recep Tayyip Erdo?an, said he had met with Egypt’s ministers for oil and electricity during his visit, which he said had been “extremely fruitful.” He also said Turkey signed two memoranda with Egypt on energy cooperation. “One of them is about joint projects in third countries, the other regards electricity.”

Turkey is working on a master plan for electricity-interconnection in the southern and eastern Mediterranean countries including Syria, Lebanon, Jordan, Palestine, Egypt, Libya, Morocco and Algeria, said Y?ld?z. “Thus, an interconnecting system will be available for the southern Mediterranean region, as it is for the north,” he added.

“We import natural gas from five countries and oil from 11. Egypt can be the sixth country that exports natural gas to Turkey,” the minister said, adding that Egypt produces about twice the amount of energy Turkey consumes.