Turkey expands offshore oil search
Tuesday, December 25, 2012
The Turkish Petroleum Corporation (TPAO)’s subsidiary, Turkish Petroleum International Company (TPIC), will search for oil in Turkey’s Mediterranean offshore field for two more years, an official journal reported yesterday.
State-controlled TPIC’s application to extend the duration of its search licenses was approved by the Turkish Petroleum Affairs General Directorate (PIGM).
The national fuel sector body has decided that TPIC’s five licenses for oil exploration in the Antalya Petroleum Region of the Mediterranean offshore field will be valid from Feb. 1, 2013 to Feb. 1, 2015.
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