News and Analysis
Turkey to drill 45 Oil wells in Southern Iraq
Turkish Petroleum Corporation (TPAO) is holding talks with Iraq to drill 45 oil wells in the southern Al-Rumaila oil field
March 04, 2010: The Turkish Petroleum Corporation (TPAO) is holding talks with Iraq to drill 45 oil wells in the southern Al-Rumaila oil field as part of a projected $312 million contract. TPAO Chief Executive Mehmet Uysal said in a televised interview on March 02, 2010 that the relevant deal would be signed with the Iraq South Oil Company in the coming six months,“provided discussions in this regard proceed without problems.”
Uysal added that the Turkish Petroleum International Company, the external arm of TPAO, would undertake the drilling at the oilfield whose current output capacity of one million barrels per day may be lifted to 2.8 million bpd.
(Source: Energy turbine)