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Turkey Begins Ultra-Deepwater Oil Drilling in Horn of Africa
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Why This Matters
Turkey has begun ultra-deepwater oil drilling in the Horn of Africa, following a partnership agreement signed with Somalia in March 2024. This move marks a significant step in the exploration of hydrocarbon resources in the region. The project's potential impact on the global oil market is yet to be seen.
Market Impact
Market impact analysis based on bullish sentiment with 80% confidence.
Sentiment
Bullish
AI Confidence
80%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
Back in March 2024, the Federal Government of Somalia and the Republic of Türkiye signed a major offshore hydrocarbon exploration and production agreement in Istanbul. This strategic partnership allowed Turkey’s state-owned energy company, Turkish Petroleum Corporation (TPAO), to conduct 3D seismic surveys and drill for oil and gas in both offshore blocks and three land blocks covering roughly 16,000 square kilometers, with the additional agreement for onshore exploration signed in early 2025. Turkey wasted little time, dispatching…
Original article published by
OilPrice.com
on February 18, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.