The government has proclaimed the investment mobilization in order to acquire underground resources to the economy of the country. In 2015 despite decrease in crude oil prices, Turkish Petroleum Corporate did not slash its investment expenditures.
The company maintained its activities abroad in Azerbaijan, Iraq, Russia, Afghanistan and Turkish Republic of North Cyprus in order to contribute to the supply of crude oil and natural gas. Last year the investment of the Turkish Petroleum Corporate in oil exploration was $2 billion. Despite plunge in crude oil prices, Turkey became the most drilling country in Europe. According to evaluation of the Turkish Petroleum Corporate (TPAO), low oil prices in recent period have affected the number of active drilling. In 2014, raising by 40 units, the number of oil rig raised by 44 units in November 2015. Regarding downward trend in oil prices during 2015 continuing some 30 units, the number of oil rig decreased by 28 as of March 2016. Despite oil prices have affected the activities, as of March 2016, Turkey has been in the most drilling country position with 28 rigs. The TPAO accomplished drilling in 53 wells in 2015.
Turkey was followed by Norway with 19 oil rigs and the UK with 10 oil rigs. A total of expenditure worth $2 billion as $425 million in home and $1,6 billion abroad.
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