Turkey Outstripping Norway in Exploration

Turkey is fast emerging as Europe's leading hydrocarbon explorer, with more rigs drilling for natural gas and oil than any other country, according to reports.

Ankara also plans to draft new rules this year to improve and speed up its energy exploration.

The country fielded 26 rigs at the end of last year, according to data compiled by Bloomberg, and the number has since risen to 34, Energy Ministry officials said yesterday. 

Turkey has overtaken Norway as offshore drilling increased in the Black and Mediterranean seas. Spending on exploration jumped to €460 million ($610 m) last year from €31.6 million a decade earlier.