Original news was published on 24 June, 2014
ExxonMobil is discussing the possibility of entering Turkey’s shale gas market with state-owned Turkish Petroleum (TPAO).
Talks could lead to joint exploration onshore in the southeast and in the Thrace Basin in northwestern Turkey, according to a Reuters report. Reserve estimates for shale gas in Turkey vary from an optimistic 20 trillion cubic meters to proven reserves of just 6-7 billion cubic meters.
Investors from the US, Europe, and Canada are also interested in Turkey’s shale gas and oil, and Turkish officials may hold talks with potential investors in October.
TPAO is looking for ways to increase domestic output as strives to reduce dependence on foreign oil and gas. Turkey plans to supply its own energy by 2023. Currently, 98 percent of its natural gas demand is met by imports, as well as 90 percent of its oil requirements.
*NEWS SOURCE
