Turkey Boosts E&P Terms
Turkey’s new Petroleum Law aims to attract new upstream investors. It includes improved terms and an end to privileges enjoyed by state oil firm, TPAO. The law divides acreage into onshore and offshore, in contrast to the 18 regions under the old 1954 law. Explorers will no longer have to partner TPAO offshore, one source says. Initial exploration phases will be longer: five years for onshore blocks (up from four at present)...
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