The general directorate of Türkiye's state energy company Turkish Petroleum Corporation (TPAO) was granted an oil exploration license for four fields lasting eight years in the "Exclusive Economic Zone," said a communique issued Thursday.
The economic zones, within the country's maritime jurisdiction areas, are determined by bilateral delimitation agreements in the Black Sea.
The decisions of the General Directorate of Petroleum Affairs of the Ministry of Energy and Natural Resources regarding oil rights were published in Thursday's issue of the couuntry's Official Gazette.
Accordingly, it was decided to provide the oil exploration licenses in question to four fields within TPAO's territory starting from Oct. 31, 2023.
The fields encompass a surface area of 556,162 hectares, 48, 333 hectares, 326, 253 hectares and 262,762 hectares, respectively.
TPAO operates as a contractor company for licenses in providing exploration, production, field development and drilling services.
On the other hand, based on a license AR/ABE/K/N48-c1, c4 a 100% share of ABE Petrol Doğalgaz Enerji Maden A.Ş. in southeastern Şırnak was transferred to the General Directorate of Turkish Petroleum.
