TPAO invites international oil & gas companies a farm-out opportunity in blocks located offshore Turkey in the Western & Central Black Sea, for licences registered as AR/TPO/3920, AR/TPO/3921 and AR/TPO/3922 separately. "We would like to explore these blocks together, so there will be a farm out process as outlined on our web site."
Once again, TPAO welcomes international oil & gas companies for these exiciting Black Sea exploration opportunities.
In other parts of the offshore Turkish Black Sea TPAO and its joint venture partners have intensified exploration & development activities since 2002. Currently, the TPAO/Madison/Stratic joint venture is developing a shallow water gas field discovered in 2004 near Akcakoca in the Western Black Sea, and the plan is to be on stream by the middle of 2006. In the mean time TPAO/BP/Unocal (Chevron) venture is exploring in the Eastern Black Sea, and the partnership is currently drilling the first deepwater well in this basin. TPAO/BP/Unocal (Chevron) venture joined Anadarko a couple of moths ago to intensify the exploration activities in Georgian sector of the Eastern Black Sea.
TPAO also has been running its own exploration programs in adjacent deepwater blocks to unlock the potential of the Black Sea frontier basins. Over these large deepwater blocks good quality 2D seismic programs (14 000 km in 2004 and 15 000 km in 2005) have been completed or will be completed in 2005, and the company is planning to acquire 3D seismic data within 2006 to prepare drilling programs for testing some of its prospects/plays identified by 2D seismic data.
The Black Sea, overall, is becoming a new area of focus for E&P companies. TPAO's farm-out invitation may create the right joint ventures to create another "Caspian" in the region.
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