Turkish state firms Botas and TPAO and global energy major Royal Dutch Shell have formed a natural gas exploration and marketing partnership in Iraq
Turkish state firms Botas and TPAO and global energy major Royal Dutch Shell have formed a natural gas exploration and marketing partnership in Iraq, Turkish Energy Minister Hilmi Guler said on Thursday.
TPAO has also been invited to enter exploration tenders for eight oilfields in Iraq, for which the firm may form a partnership with Shell, Guler said.
"There is a possibility of a TPAO partnership with Shell, especially on the Kirkuk field," Guler said during the signing of a memorandum of understanding with the energy major.
Last week TPAO Chief Executive Mehmet Uysal told Reuters his company had reached the final stage of talks with Shell to bid together in a partnership in oil exploration tenders in Iraq.
The agreement between Turkey and Shell will also cover possible gas infrastructure projects in Turkey including links with neighbouring countries, Shell said in a statement.
"These infrastructure projects may enable countries such as Iraq to export its future surplus gas to Turkey and further into Europe once Iraq's domestic demand has been satisfied," the statement said.
TPAO had said it was interested in opportunities in neighbouring Iraq's oil and gas sectors, The company was added in April to the list of companies that pre-qualified to bid in oil exploration tenders.
Iraq, reliant for revenue on oil, needs major investment to boost output after years of sanctions and war.