Turkey will conduct research for energy resources in the western Black Sea with energy giant Royal Dutch Shell, Minister of Energy and Natural Resources,, Taner Yıldız, announced yesterday.

Speaking at a press conference at the Bosphorus Energy Club's third meeting in Istanbul, Taner Yıldız said that Turkey is planning to conduct drilling activities for oil and natural gas resources on its northwestern region, off the coast of Şile, with Royal Dutch Shell.

"Our seismic data indicate that drilling in this basin would be accurate, given the indications," said Yıldız, adding that the Turkish vessel Barbaros Hayrettin Paşa has conducted 3-D seismic studies in a 1,540 square kilometer area.

Yıldız said that Turkey will have a 50 percent interest with Shell on the $300 million investment which is planned to begin in January 2015.