Arab Today, arab today turkey to invest 15bn in oil and gas exploration
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Turkey to invest $1.5bn in oil and gas exploration

Arab Today, arab today

Arab Today, arab today Turkey to invest $1.5bn in oil and gas exploration

Turkey's directorate general for petroleum affairs
Istanbul - Anadolu

Turkey will spend around US$ 1.5 billion in oil and gas exploration projects in two years, says head of Turkey's directorate general for petroleum affairs.
"Sixteen energy companies applied for 116 licences for new hydrocarbon fields since June 16 and now we will evaluate the applications", Selami Incedalci, head of directorate general for petroleum affairs, told Anadolu Agency on Monday.
"The exploration projects for these unconventional oil and gas resources will create around a US$ 1.5 billion worth of investment over the 2 years."
Turkey is dependent on expensive energy imports to meet its daily oil demand of around 800 thousand barrels per day (kbp). Ankara strives to increase its domestic production of around 60 kbp by exploring the unconventional oil and gas resources. Turkish parliament passed last year a new oil legislation in an effort to facilitate procedures for domestic and foreign energy company investment.
All the licence applications for the new fields were for onshore oil and natural gas fields. Incedalci calculates that the amount of investment will far exceed US$ 1.5 billion when the capital and technology intensive offshore projects will start in the coming years.
 - Shell to drill deep sea field in Black Sea
 Incedalci said that Shell, which operates two fields in southeastern province of Diyarbakir in cooperation with Turkish Petroleum Company (TPAO), is planning to drill a deep sea field in the Black Sea.
The natural gas field which Shell plans to drill in 2015 is off the coast of Akcakoca, a city on the Black Sea coast in north of Turkey. Shell and TPAO have already signed a farm out agreement granting Shell to obtain a percentage of ownership of the field TPAO owns in exchange for providing services.
TPAO intensifies its natural gas explorations in Black Sea and the agreement might give a boost in exploration activities in the region, prompting other exploration companies to follow Shell for a share of unconventional natural gas resources.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkey to invest 15bn in oil and gas exploration Arab Today, arab today turkey to invest 15bn in oil and gas exploration

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkey to invest 15bn in oil and gas exploration Arab Today, arab today turkey to invest 15bn in oil and gas exploration

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude

GMT 15:11 2017 Saturday ,10 June

Oil prices steady despite supply glut

GMT 14:28 2017 Sunday ,04 June

Kuwait oil price down 52 cents to USD47.83 pb

GMT 23:44 2017 Saturday ,03 June

OPEC daily basket price for Tuesday, 30th May 2017
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday