3/6/2009

TPAO inks Turkish exploration deals with Exxon, EOG

Rigzone.com - According to a report by Reuters, the Turkish Petroleum Corporation, or TPAO, signed oil exploration deals with ExxonMobil and EOG in an effort to increase the exploitation of hydrocarbon reserves in Turkey. The deals are for joint exploration in Turkey's southeastern region, as well as in the Black Sea, which is estimated by TPAO to contain 10 billion barrels of crude and 1.5 trillion cubic meters of natural gas reserves. TPAO's Chief Executive, Mehmet Uysal, said in a news conference that the company signed a non-disclosure agreement with ExxonMobil for the exploration of oil in the region of southeastern Anatolia, the area of Turkey that borders Iraq.
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