TPAO and Shell to cooperate in oil exploration

ANKARA (A.A) - November 22, 2011 - Turkish Petroleum Corporation (TPAO) and British energy company Shell will sit at table on Wednesday to sign a cooperation agreement on oil and natural gas exploration. TPAO and Shell will sign an agreement to explore, produce and share oil and natural gas in Mediterranean and Turkey's southeastern Anatolia region. Turkish Energy & Natural Resources Minister Taner Yildiz will participate in the signing ceremony. Under the agreement, TPAO will continue its seismic research off southern province of Antalya together with Shell. After seismic researches are completed, drilling efforts will begin in the light of the collected data. If drilling begins, Shell will meet all the expenses. The two companies will have equal share if oil or natural gas is found after the drilling efforts.