TPAO, holding a 9-percent stake already, purchased all of super-major Total’s stakes for $1.45 billion as the French company is exiting the project in order to concentrate on the Absheron field development. With 19 percent, TPAO will be the second-largest stakeholder after BP, which holds 28.8 percent.
Speaking to reporters in Ankara on Friday, Turkish Minister of Energy and Natural Resources Taner Yıldız highlighted that importance of the deal having been financed by local banks, with Vakıfbank and Iş Bankası extending $500 million each and TPAO covering the remaining $450 million.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
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Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
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