The bill that would completely change Turkey’s petroleum map is approved by the Parliamentary Counsel. With Turkish Petroleum Law, it is aimed to improve petroleum exploration and production activities, promote investments and increase the participation of domestic and foreign capital into explorations. According to the law, Turkey will be territorialized in two petroleum areas as land and sea, instead of 18. Exploration licence will be given for making explorations, making researches, producing petroleum from explored oil areas and appyling for exploration. The applicant will secure 2% of the investment amount required for the business schedule offered in licence application. This rate will be applied as 1% in seas. Areas with expired operating rights will be allowed to be auctioned upon Minister’s approval in order to be given operating licence. The public share taken from produced petroleum will be based on market price instead of per well price. Activities of exploration and operation within national parks are taken out of the regulation.