Nov. 1 (Bloomberg) -- Turkey’s state oil and gas company resumed drilling in a Black Sea well it abandoned in March and is approaching the last 1,000 meters, Chief Executive Officer Mehmet Uysal told Hurriyet.
The company found oil during preliminary exploration at a depth of around 4,800 feet and will be drilling back to that level, Uysal told the Istanbul-based paper.
Some $4 billion has been spent on exploration in Turkey’s Black Sea, of which $3.5 billion was spent by foreign oil companies, Uysal said.
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