Exxon Seeks Turkish Shale-Gas Exploration License, Hurriyet Says

Exxon Mobil Corp. (XOM) is in talks with Turkiye Petrolleri AO, Turkey’s state oil and gas company, known as TPAO, to explore for shale gas in southeast Turkey, Hurriyet reported, citing unidentified Energy Ministry officials.

The area for which Exxon seeks a license is adjacent to the Saribugday-1 field in Diyarbakir province, where Royal Dutch Shell Plc (RDSA) and TPAO started exploring last week, the newspaper said.

There may be 13 trillion cubic meters of shale-gas reserves, 1.8 trillion of which are recoverable, Ismail Bahtiyar, chairman of the Turkish Association of Petroleum Geologists, said April 20.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editors responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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