Turkey joins natural gas exploration in Iraq

Nov 20, 2008 01:00 AM

Turkey will explore natural gas in Iraq together with a multinational energy company in the near future.
Turkey's Petroleum Corporation (TPAO), the Petroleum Pipeline Corporation of Turkey (BOTAS) and Shell Energy Europe signed a preliminary contract to explore, manage, transport and market natural gas in Iraq, said the report. The agreement enables transportation of natural gas to Turkey and Europe after meeting the domestic demand in Iraq, it said.

The agreement also envisages the companies to carry out infrastructure work including construction of pipelines, underground depots and interconnection lines.
"The cooperation of these three companies would contribute to world energy supply safety as well as regional peace and stability," said Turkish Energy and Natural Resources Minister Hilmi Guler during the signature ceremony. The minister said TPAO, founded in 1954, is a company that knows well about Iraq's geology, and it has been invited to tenders to explore and manage eight giant oil fields in Iraq.

In addition, he said that TPAO and Shell could also cooperate in exploring and managing oil in Iraq and TPAO is deliberating with the Iraqi government to drill natural gas near Iraqi border with Syria. Shell Energy Europe is the dynamic, pan-European gas marketing business of Royal Dutch Shell.
Turkey signed a memorandum of understanding with Iran to improve cooperation in natural gas, and reached a cooperation deal with US ExxonMobil company to explore natural gas and oil in the Black Sea.

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