TPAO Will Search for Oil and Natural Gas in Bulgarian Waters
The details of the partnership that Türkiye will take part in the oil and natural gas explorations to be carried out in Bulgarian territorial waters have been announced. Türkiye Petrolleri Anonim Ortaklığı (TPAO) became a 33 percent partner in the oil and natural gas exploration license in Bulgaria's "Khan Tervel Block 1-26" field in the Black Sea.
Signatures were signed on February 18
TPAO's activities in the Black Sea are gaining momentum. On February 18, TPAO announced that it was a partner in the exploration activities operated by Shell within the scope of the Oil and Natural Gas Exploration License in the Khan Tervel Block 1-26 Field, which is located in the Bulgarian exclusive economic zone.
33 Percent Share
With the decision taken today, the Bulgarian Council of Ministers allowed Shell to transfer 33 percent of its rights and obligations arising from the oil and natural gas exploration license at the Khan Tervel Block 1-26 site. Thus, the new license holder who participated in the exploration activities became TPAO.
Three-Partner Building
After the partial turnover, the partnership structure related to the field was formed to be 42 percent Shell, 33 percent TPAO and 25 percent OMV.
3 Thousand 800 Square Kilometers
Minister of Energy and Natural Resources Alparslan Bayraktar accompanied the agreement signed on February 18 and made evaluations regarding the agreement. Pointing out that the field in question is a little more than 3 thousand 800 square kilometers, Minister Bayraktar said, "This field is an area that we can say is quite close to our Sakarya Gas Field. In this exclusive economic region of Bulgaria, we will have a seismic activity with Shell in the field of maritime jurisdiction, and hopefully next year, hopefully with a search well here, about a 5-year license," he said.