Turkey's State Oil Company Joins Shell in Black Sea E&P Venture
Turkish energy company TPAO has signed up with Shell for the exploration of the Khan Tervel field, a promising formation off the coast of Bulgaria. The location has strong synergies for TPAO, and it aligns with Turkey's interest in securing its own energy resources at home and abroad. The initial stage of the collaboration includes carrying out a 3D seismic survey of the formation, covering about 1,500 square miles of seabed. The firms have a five-year lease on the site...
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