Özgür Emre

The new Turkish Petroleum Law has been introduced in 2013. The legislations and incentives regarding the new law are explained and the upstream petroleum sector of Turkey has been evaluated in all aspects, in this paper. The historical development of the industry together with the related law in Turkey is also discussed. The important points in the law about the investment guarantee, exploration license, production lease, royalty payment, foreign staff status, incentives and etc. are mentioned in detail.  It is expected that the exploration activities in Turkey will increase as the consequence of the new law. Remarkable discoveries are expected from offshore and/or unconventional activities.