Petroleum is not a recent discovery. Petroleum exploration have been continuing more than four thousand years, according to Herodotus and confirmed by Diodorus Siculus, asphalt was used in the construction of the walls and towers of Babylon.
First oil discovery was made by MTA in SE Turkey in 1945. In Turkey, a total of 3,350 wells have been drilled till 2008 and 120 different sizes of oil and gas fields have been discovered. These discoveries are mainly located in the Thrace and Southeastern Basins. Many these fields have been discovered by Turkish Petroleum Corporation, known as TPAO.
According to me, Turkish private companies should be investing more in domestic and international exploration and Turkish Government should support them by giving several tax incentives.
I hope that Petroleum will be discovered in the Black Sea and in Eastern Mediterranean. We will see on future.
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