Azerbaijan Steps Up Oil Exploration to Offset Depleted Azeri–Chirag–Gunashli Reserves
Against the backdrop of declining production at the Azeri–Chirag–Gunashli field, Azerbaijan has signed exploration agreements with four international companies — ExxonMobil, TPAO, MOL, and Gran Tierra. The focus is on finding new onshore and offshore resources. These agreements emerged from the country’s first open tender, in which 11 companies participated. …
Shale Oil Reserves in the Southeastern Region of the Republic of Türkiye Are Estimated at 6.1 Billion Barrels
Shale oil reserves in the southeastern Diyarbakir Basin of the Republic of Türkiye are estimated at 6.1 billion barrels, according to assessments by Continental Resources, a U.S.-based oil company. This was announced by the Minister of Energy and Natural Resources of Türkiye, who noted that such a volume of resources …
Ankara Plans to Develop Gas Reserves on Bulgaria’s Continental Shelf
Turkey intends to sign an agreement next month that will allow the state-owned energy company Turkish Petroleum Corporation (Türkiye Petrolleri Anonim Ortaklığı, TPAO) and a foreign partner to conduct exploration activities in a section of the Black Sea located off the coast of neighboring Bulgaria, the Turkish Ministry of Energy …
Uzbekistan Plans to Enter the Shah Deniz project in the Caspian Sea
Uzbekneftegaz plans to become a participant in the project to develop the Shah Deniz gas field in the Azerbaijani sector of the Caspian Sea, Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov told reporters on Tuesday. “Uzbekneftegaz” and SOCAR (State Oil Company of Azerbaijan, SOCAR) may sign an …
Turkey Begins a New Project to Search for Gas in the Northwest of the Country
Ankara launches gas exploration project for $125 thousand. The Turkish state-owned company TPAO has launched drilling for exploration of gas deposits in the province of Canakkale, located in the north-west of the country. The estimated cost of geological exploration is $125 thousand, local media write. TPAO named its first exploration …
Turkish Subsidiary of SOCAR AQS to Drill 4 Oil Wells in Southeast Turkey
The Turkish company SOCAR AQS Sondaj Muhendislik Sanayi ve Ticaret A.S (SOCAR AQS Turkiye) and the Turkish state oil company TPAO signed a drilling contract. SOCAR AQS Turkiye is a subsidiary of SOCAR AQS drilling company. “The contract provides for the drilling of 4 oil wells by SOCAR AQS Turkiye …
Total Sells Its 10% Interest In Shah Deniz To TPAO
Total today signed an agreement to sell its 10% interest in the Shah Deniz field and the South Caucasus Pipeline to TPAO, the Turkish state-owned E&P company. The transaction is valued at $1.5 billion and is subject to customary approvals. “The sale of our interest in Shah Deniz is in …