Turkey's state energy company TPAO signed an agreement with Shell on Wednesday for hydrocarbon exploration and production in the Mediterranean and southeastern Turkey and said other major international firms were interested in exploring nearby, Reuters reports.
Under the accord, Royal Dutch Shell said it will conduct seismic work off the coast of Antalya in southwestern Turkey until end-2012 and begin processing in 2014. It will also begin shale gas exploration near the southeastern city of Diyarbakir.
Malcolm Brinded, Shell's executive director for Upstream International, said the firm would also open at least five wells in southeastern Turkey and that the number of wells could exceed 10.
"The sharing of production which Shell will make in Antalya will be on a 50-50 basis, but in the following years TPAO's share will increase," TPAO General Manager Mehmet Uysal said at the signing ceremony.
Turkey, Shell sign exploration deal
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