Turkish Forum

Tag: Energy

  • INTERVIEW-Turkey, Syria to create a joint oil company

    INTERVIEW-Turkey, Syria to create a joint oil company

    Thu Jul 17, 2008 2:34pm IST

    By Orhan Coskun

    ANKARA, July 17 (Reuters) – Turkey and Syria’s state owned oil companies will establish a joint firm this year to develop their oilfields, the head of Turkey’s state oil company TPAO told Reuters.

    “The completion of the company’s establishment is targeted for 2008. The purpose of the company is to produce oil from fields in Syria, Turkey and third countries,” said TPAO general manager Mehmet Uysal.

    He added the company will first look for production opportunities in Syria before Turkey and third countries.

    Private sector energy experts say they are still trying to determine the extent of Syria’s oilfields. Existing fields are in need of investment for development.

    TPAO plans on exploring extensively in the Black Sea, where it already has operations, as well as in the Mediterranean Sea.

    Uysal also said Turkey, during Prime Minister Tayyip Erdogan’s trip to Iraq earlier this month, won approval to form a consortium to bid for oil exploration rights in Iraq.

    “We have ongoing talks to make an deal with Royal Dutch Shell (RDSa.L: Quote, Profile, Research) regarding exploration,” said Uysal.

    Iraq’s oil ministry has finished negotiations with oil majors on six short-term oil service contracts and hopes to sign the deals in July.

    In the absence of a long-delayed national oil law, Baghdad has been negotiating short-term technical service contracts. The deals are worth around $500 million each.

    Five of the deals that have been under discussion are with Royal Dutch Shell, Shell in partnership with BHP Billiton (BHP.AX: Quote, Profile, Research), BP (BP.L: Quote, Profile, Research), Exxon Mobil (XOM.N: Quote, Profile, Research) and Chevron (CVX.N: Quote, Profile, Research) in partnership with Total (TOTF.PA: Quote, Profile, Research).

    Source: Reuters, July 17, 2008

  • Iran, Turkey seek stronger energy cooperation

    Iran, Turkey seek stronger energy cooperation

    Tehran Times Political Desk

    TEHRAN – Iranian Foreign Minister Manuchehr Mottaki on Saturday held talks with Turkish Prime Minister Recep Tayyip Erdogan in Ankara on ways to expand comprehensive cooperation especially in energy sector.

    “Fortunately, the train of bilateral relations is moving in a good condition. Joint agreements on energy and building an electricity power plant are underway and the memoranda of understanding on cooperation in South Pars gas filed are in the final process,” Mottaki stated.

    He expressed hope that the implementation of Article 44 of the Constitution which calls for the privatization of state-run economy will provide the ground for further cooperation between the two neighbors’ private sectors.

    Erdogan, for his part, said political, economic, and cultural relations between Tehran and Ankara have considerably improved over the past years.

    “We hope that the implementation of power plant and refinery projects in Iran by Turkish companies will provide the ground for further expansion of relations.”

    Iran announced in early July that the construction of a 600-million-euro pipeline to transfer Iran’s natural gas to Turkey and Europe will begin soon.

    “”A 56-inch-diameter pipeline will be extended to Iran’s border point of Bazargan to boost gas exports to Turkey and Europe,”” Iran’s Deputy Oil Minister Reza Kasaeizadeh said.

    Kasaeizadeh expressed hope that the project would soon be put out to tender, saying that the 420-kilometer pipeline is of paramount importance for Iran.

    Turkish prime minister said, “We believe that the Iran-Turkey-Europe gas route should be on the top agenda of the two countries.”

    Source: Tehran Times, July 20, 2008