Turkey’s state energy firm TPAO will sign a partnership deal with UK-based supermajor BP and with Azerbaijan’s state oil and gas company Socar for the development of a natural gas field in the Azeri sector of the Caspian Sea, Turkish Energy Minister Alparslan Bayraktar said on Monday.
The Turkish state energy firm TPAO will sign on Tuesday an agreement with BP and Socar for the Shafag-Asiman field, the Turkish energy ministry said on Monday.
BP and Socar have been partners developing the Shafag-Asiman field, where the first exploration well was spudded in 2020. BP is operator and holds a 50% interest in the Shafag-Asiman production sharing agreement (PSA) with partner SOCAR holding a 50% interest.
Now Turkey’s TPAO is entering the agreement with a 30% share, Minister Bayraktar said at an energy forum in Baku.
“We are also talking about other fields, especially in the Caspian Sea,” the Turkish official added, referring to the Turkish-Azeri energy cooperation.
Earlier this year, Bayraktar said that Turkey is boosting domestic natural gas production in its Black Sea waters and is looking to expand its international partnerships in oil and gas exploration in Bulgaria’s Black Sea, in the Caspian Sea region, and in Iraq.
Turkey explores opportunities for international cooperation in oil and gas exploration in Azerbaijan and other Caspian Sea areas, and potential new field exploration in northern and southern Iraq, according to the Turkish energy minister.
While Turkey looks to boost its international presence in oil and gas exploration, the country has just completed phase one development at the Sakarya Gas Field in its Black Sea waters.
Turkey has been boosting natural gas production from its Black Sea operations, where massive gas reserves have been found in recent years.
At Sakarya, daily gas production is now around 9.5 million cubic meters, which provides gas and energy to about 4 million Turkish households.
By Tsvetana Paraskova for Oilprice.com
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