Bayraktar attended the signing ceremony for the Hydrocarbon Exploration and Production Agreement held in Istanbul, along with Somalia's Minister of Petroleum and Mineral Resources, Abdirizak Omar Mohamed.
Under the agreement, Türkiye will have the exclusive rights to explore and produce hydrocarbon in three blocks each representing an area of 5,000 square kilometers, Bayraktar said.
Two of the blocks are about 50 kilometers offshore and the other one is 100 kilometers from the shore.
Bayraktar revealed that in the first stage three-dimensional seismic activities will be conducted in the designated areas.
'We are sending the Oruc Reis ship to this region at the end of September, early October,' he added
Bayraktar said that the Turkish vessel will conduct a 'very important seismic research that will last for months,' which could lead exploration, drilling and possibly a discovery.
Dubbing the deal as 'a historic step' for both countries, Bayraktar said that Oruc Reis will travel with a 50 person crew along with five support vessels to Somalia.
For his part, Mohamed expressed his delight over the new agreement between Somalia and Türkiye.
'Hopefully, once the production starts, it will be beneficial for both countries. It will also help the relationship between the two countries as well,' he said.
Mohamed added that seismic activity will be followed by 'exploratory drilling sometime in early next year.'
Türkiye, a close ally of the Horn of Africa nation, has invested in the country's education, infrastructure and health and provided extensive humanitarian aid.
AzVision.az
