Turkey's Energy and Natural Resources Ministry will search for oil in the Black Sea along with 3 companies, according to an agreement signed on Monday. In this context, a drill ship will begin oil exploration works in early 2011.

Energy and Natural Resources Minister Taner Yıldız met a senior official from one of the Ministry's American partners, and said Turkey is resolved to find oil in the Black Sea.

Yıldız noted "Turkey's needs, especially of those pertaining to oil and natural gas, are known. Right now, we can extract nearly 8-10 % of our reserves. But we should be able to extract at least 70-80 % of them. We will drill many wells in the Black Sea, and hopefully we will find oil."

A platform that will begin its first drilling work in the Black Sea next year, is currently manufactured in South Korea.