TPAO to Start Exploration Campaign Unaided by Supermajors (Turkey)

Turkish Petroleum Corporation (TPAO) will start exploratory drilling operations in the Eastern Mediterranean in 2013, Reuters has reported.

The national oil and gas company of Turkey expects to begin the search for hydrocarbon reserves in Mersin and İskenderun Bays without the support of international companies.

Turkey had hoped that international oil and gas exploration and production majors would be interested in farm-out agreements covering the licences in Mersin and Iskenederun.

Earlier this year, Turkish officials said that major oil companies such as Statoil, Petrobras, Chevron, ExxonMobil were eyeing a stake in Turkish offshore acreage.

A Turkish official today told Reuters that the oil companies were scared off by the instability of the region.

“Because of this they did not enter into the process that TPAO started. TPAO will start exploration in 2013,” he explained.

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Offshore Energy Today Staff, September 14, 2012