Turkey has discovered a new reserve of 75 billion cubic metres (bcm) of natural gas during drilling works in the Black Sea, President Tayyip Erdogan said on Saturday.'With this discovery, we will meet the natural gas needs of homes in Turkey for 3.5 years,' Erdogan said during an event in Istanbul.The discovery, with an economic value of around $30 billion, was found in the Goktepe-3 well at a depth of 3…
Turkey's state energy company BOTAS has signed two separate 10-year LNG supply agreements with Germany's state-owned SEFE and Italy's Eni on the margins of the World LNG Summit in Istanbul, the company said on Wednesday.Under the BOTAS–SEFE deal…
From Egypt to Kazakhstan, the foreign assets of Russian oil major Lukoil LKOH.MM are attracting potential bidders as time runs out to clear deals before U.S. authorities enforce sanctions.The U.S. has hit Lukoil with sanctions as part of its effort to bring the Kremlin to peace talks over Ukraine…
Pakistan said it has awarded 23 offshore exploration blocks to four consortiums led by local energy companies, some partnered with foreign firms including Turkey's national oil company TPAO.In Pakistan's first such bidding round in nearly two decades…
Italy's Saipem said on Wednesday its third-quarter adjusted core profit rose 29% year-on-year as the energy contractor pocketed new orders in Turkey and Guyana.Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 437 million euros ($510 million)…
Inyanga Marine Energy Group has assumed operational management of the newly built hybrid utility vessel Tor Boreas, in partnership with Turkey’s Tor Group, targeting the offshore wind sector.Tor Boreas is 26.95 meters long, with a breadth of 11 meters…
Libya's National Oil Company (NOC) had signed a memorandum of understanding with Turkish state oil company TPAO to conduct a geological and geophysical study of four offshore areas, NOC said on Wednesday.'Discussions were also held regarding conducting a two-dimensional seismic survey (10…
Libya's internationally recognised government of national unity has objected to Greece's approval of an international tender for hydrocarbon exploration off the island of Crete, saying some of the blocks infringe upon its own maritime zones…
Exxon Mobil and Azeri state energy company SOCAR said on Monday they signed a deal agreeing to explore onshore oil and gas production in Azerbaijan, while BP is expected to buy into new Azeri offshore fields, according to three sources.Azerbaijan's…
Turkish state oil company TPAO will sign a gas production-sharing agreement with Azerbaijan's SOCAR and BP for the Shafaq-Asiman offshore block on the Caspian sea, Turkey's energy minister said on Monday.'Today, we are taking further steps with…
Greece has approved an international tender for hydrocarbon exploration in four blocks in the Mediterranean Sea, following an expression of interest by Chevron and Helleniq Energy, the energy ministry said on Thursday.Greece this week issued…
Iraq has signed a deal to establish a subsea oil pipeline for exports via its southern ports, the country's oil ministry said on Sunday.The project is in cooperation with Italian offshore contractor Micoperi and Turkey's Esta for a pipeline with capacity of 2…
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