Chevron signs deepwater drilling deal in Turkey
- Written by Admin TOA
- Published in Technology
SAN RAMON, Calif. - Chevron Corp., one of the world's largest oil companies, said Monday that its Turkish subsidiary has signed an agreement with Turkey's state oil company for a license to explore and drill in the Black Sea.Chevron will get a 50 percent interest in a western portion of an 8,700 square mile block located 220 miles northwest of the capital city of Ankara.
Turkey's state oil company holds the remaining 50 percent and will be the operator of an initial exploratory deepwater well currently being drilled. If the initial well is successful, an additional exploratory well will be drilled in 2012.
Chevron would become operator during any future development of the project under the agreement.
Chevron's current interests in Turkey include marine transportation and pipeline operations.
Its shares rose $1.36, or 1.7 percent, to $79.82 in midday trading Monday.
Source: businessweek.com
Last modified onSaturday, 06 May 2017 10:07
Latest from Admin TOA
- Hiram & Solomon Cigars Introduces the Patriot Cigar Honoring M.W. George F. Hamilton, 91st Grand Master of Masons in Massachusetts
- PCA Officially Announces 2025 Trade Show Dates
- Galaxy Group Gets DO&CO Detroit Project
- Necla Ozkan Joins Coldwell Banker Realty’s 2024 Sterling Society for Outstanding Sales Performance
- "Discovering Hidden Gems: Inspiring Stories from New York Life & Beyond"