If the gas can be commercially extracted, the discovery could transform Turkey’s dependence on Russia, Iran and Azerbaijan for energy.
Turkey has discovered 135 billion cubic meters (Bcm) of additional natural gas in the southern Black Sea, President Tayyip Erdogan said on June 4, raising the total discovery in the region to 540 Bcm.
MagniSphere service delivers real-time reservoir evaluation data to improve drilling performance and optimize well placement for maximized production
The exploration of the Black Sea Neptun block is a joint venture between OMV’s Romanian subsidiary Petrom and U.S. major Exxon Mobil Corp., and includes the first deepwater exploration well in Romanian waters.
Bourbon Marine & Logistics has been awarded by Shell its first integrated logistics contract for the support of its exploration campaign in Black Sea, Bulgaria, in partnership with Bulgarian operator Bon Marine on March 28.
Turkey and the internationally recognized Greek Cypriot government have overlapping claims of jurisdiction for offshore oil and gas research in the eastern Mediterranean, a region thought to be rich in natural gas.
French oil giant Total (NYSE: TOT) and its partners Austria’s OMV and Spain’s Repsol have started drilling a third well in a block off the Bulgarian coast in the Black Sea, Total’s Bulgarian business said on Nov. 7.
The deal with Focus Oil could value Shell's stake in the Caesar Tonga Field in the Gulf of Mexico at about $1.3 billion, the report said.
Gazprom, which plans to complete the pipeline in 2019, said in a statement that 1,161 km of pipe had been laid since it began construction last year.