Shell and Turkey sign oil, gas search deal

Royal Dutch Shell has signed a deal with Turkish state-run petroleum company, TPAO, to search for oil and gas. The deal, sealed on Wednesday, allows the two companies to search for oil and natural gas offshore in the Mediterranean as well as onshore, in Turkey's southeast region.

Turkey has recently carried out a seismic search for fuel sources in the Mediterranean in response to a Greek Cypriot search, which Turkey opposes on the ground that it undermines the rights of Turkish Cypriots. Turkey and Greece also have long-running disputes over delineating the Mediterranean and Aegean seas for exploration.


/Hurriyet Daily News/