Shell and Turkish Petroleum start drilling in the Black Sea

Newsroom 07/01/2015 | 12:26

Shell and Turkish Petroleum will start exploration activities in January in the western Black Sea, near the area where Exxon and OMV made a considerable gas discovery in 2012, according to Hurriyet Daily News.

Taner Yildiz, Turkey’s minister of Energy, said he was optimistic in regards to the project’s results, mentioning that Romania has recently discovered important gas reserves in the region.

“Our objective is to build a platform worth USD 1 billion”, Yildiz also said.

“We can start the exploration work nearly a year ahead of schedule, given the partnership we have with TPAO and the support of Turkish authorities”, Ahmet Erdem said, Shell director for Turkey.

Shell and TPAO will invest USD 300 million in the project, which involves drilling in the western part of the Black Sea, 100 km away from Istanbul, at depths of over 2,000 m.