Turkish petroleum company, Dutch oil giant sign exploration agreement

ANKARA (A.A) - November 23, 2011 - Turkey's state-run petroleum company and Shell on Wednesday signed an agreement for exploration and joint production of oil and gas off coast of the country's Mediterranean shores as well as in Turkey's southeastern region.    Turkish Energy and Natural Resources Minister Taner Yildiz oversaw the penning of the agreement between the Turkish Petroleum Company Director Mehmet Uysal and the Dutch oil giant's executive director for upstream international, Malcolm Brinded.     Shell said the deal covered drilling in the maritime zones off of Turkey's southern province of Antalya.  Shell will undertake the transfer of the drilling rig and financing of the production from possible findings in the zone's 2,500-meter deep seabed. Exploratory drilling in deep waters cost around USD 300 million, Shell said.  Exploration efforts in Turkey's southeast will cover shale gas.  "Our cooperation is away from international political concerns or speculation. It is a result of a technical study," Yildiz said during the ceremony.