3/28/2012

Turkey collecting bids for oil exploration in eastern Med

Hurriyet Daily News - Turkey’s national oil and gas company and energy regulator will soon receive applications from corporations to search for oil in Turkey and import natural gas from Iraq, respectively.


Chevron, Total, Petrobras, Statoil, ConocoPhillips, OMV, RWE, Genel Enerji and BG are preparing applications to search for oil in southern Turkey’s Mersin-İskenderun region, an energy official told Reuters. The Turkish Petroleum Corporation (TPAO) will start receiving bids for the oil search on May 15.


TPAO said that although they expected to reach an agreement with one particular company, they could consider increasing this number if there were different applications for more than one license.


Meanwhile, the Energy Market Regulatory Authority (EPDK) has set an April 9 deadline to receive bids to import natural gas from Iraq. Turkey needs different sources of natural gas as it used 48.5 billion cubic meters of natural gas in 2011, according to Reuters.

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