Middle East Economic Survey
TPAO And Chevron Form Joint Venture For Black Sea Exploration
Chevron on 20 September announced that its Turkish subsidiary has signed a joint operation agreement (JOA) with Turkeys state-owned Turkiye Petrolleri Anonim Ortaki (TPAO) for an exploration license in the Black Sea. Chevron will take a 50% interest in the western portion of License 3921, a 22,505 sq km block located 350km northwest of Ankara. TPAO will hold the remaining...