Shell, Turkey's TPAO in Joint Oil, Gas Black Sea Exploration in 2015

Shell Upstream Turkey, the Turkish arm of Anglo-Dutch energy group Shell, and Turkish state-owned oil and gas firm Turkish Petroleum Corp (TPAO) will jointly carry out oil and gas explorations in the western Black Sea in 2015, local media reported.

The partners plan to spend about 237 million euro ($296 million) on exploration activities which will start in the first quarter of 2015 and will continue for eight months, news agency Anadolu Ajansi said on Monday, citing a research report.

The exploration will be conducted with three platform-supported drilling vessels and a land supply base to be built at the Haydarpasa Port in Istanbul.

Shell Upstream Turkey and TPAO agreed in February 2013 to jointly conduct deepwater exploration activities in the westernmost portion of Turkish Black Sea waters.

Source: SeeNews