MOL, Turkish Petroleum enter E&P collaboration

Main » News » MOL, Turkish Petroleum enter E&P…

MOL Group and Turkish Petroleum Corp. (TPAO) in Istanbul have signed a memorandum of understanding (MoU) to collaborate in the exploration and production of hydrocarbons in Turkey and potentially other regions.

These include the Caspian, North Africa, Middle East, eastern and central Europe.

Under the MoU, they will jointly deploy their technical and commercial knowledge, engineering techniques and financial resources.

Both are currently partners in the Azeri-Chirag-Deepwater Gunashli (ACG) field in the Azerbaijani sector the Caspian Sea, and in the Baitugan field in Russia.

MOL Group aims to sustain its production at a minimum 90,000 boe/d over the next five years, partly by expanding the international portfolio of its Exploration and Production division.

Sourse: offshore-mag.com

MORE

Hungary and Turkey to extend partnership on gas supply

Hungary has imported 275 million cubic metres of gas from Turkey this year and the two countries have now agreed to continue the partnership, announced Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade. The Minister said the construction of the TurkStream natural gas pipeline has been “the most important step” taken in the last…


Azerbaijan’s GL Group acquires 25% stake in a gas development project in Turkey

GL Group, the first privately owned group of energy companies in Azerbaijan, has acquired a 25% equity stake in Gazelle Energy, a Canadian company, which holds 100% ownership and is the Operator of the Thrace Basin Block F17-b4 license in northwest Turkey, reported the Azer News. This block, spanning 145 sq km, is a tight…


Bilfinger develops cooperation with Black Sea Oil & Gas in Romania under framework agreement

Bilfinger, the leading global industrial services provider, has won a series of engineering projects under the universal framework agreement that has been closed with Black Sea Oil & Gas company. It is the first new offshore gas development project in the Black Sea built in over 30 years that managed to extract gas from the…