Statoil to search for natural gas in Turkey – Turkey, 17 May 2016

According to the statement from the company, Norwegian Statoil has entered a binding agreement for two exploration licenses in Thrace region in Northwestern European part of Turkey.
The statement explained that Statoil acquired 50 % stake in the Banarli licenses, while the operator, Canadian company Valeura Energy Inc. will keep the remaining 50 %. These two exploration licenses cover the area of about 540 square kilometers. The work program in these exploration blocks includes several stages, while the first one includes the drilling of one exploration well in late 2016 or early 2017.

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