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FACTDROP: Shell signs Turkey exploration deal


Shell signs Turkey exploration deal

Turkey-bound: Shell signs exploration deal for Mediterranean and southeast regions

Πηγή: upstreamonline
By Bill Lehane
Nov 23 2011

TPAO and Shell have signed an agreement for oil exploration and production in the Mediterranean and southeast Turkey regions.
An agreement was reportedly signed between Turkish state energy company and the Anglo-Dutch supermajor on Tuesday in Ankara, Reuters said.

Shell said it would conduct seismic work in the Mediterranean near Antalya until the end of next year, and that processing would start in 2014, according to Reuters.

Malcolm Brinded, Shell’s executive director for its international upstream division, told the signing ceremony in Ankara that the company would also open at least five - and possibly ten or more - wells in southeastern Turkey.

Last Wednesday, Turkish Energy Minister Taner Yildiz confirmed to reporters that talks were ongoing with Shell and that a deal would likely be signed this week.

"We will sit around the table with Shell next week," Yildiz said, the wire service reported. Rumors of the deal had emerged in a story in Turkish newspaper Sabah earlier that day.

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