Middle East Economic Survey


No 24



Turkey Approves ExxonMobil/TPAO Black Sea Exploration Agreement

ExxonMobil announced on 8 June that the Turkish government has approved an agreement with Turkeys state oil company TPAO to explore two deepwater blocks in the Black Sea. The two companies signed the agreement in November 2008 for joint exploration of the Samsun Block, which covers 8,500 sq km, and the eastern portion of Block 3921, which covers 21,000 sq km. Water depths on...