ExxonMobil farms in to Black Sea acreage

ExxonMobil Exploration & Production Turkey BV has agreed to acquire a 25% interest in 7.4 million acres in deep water of the Turkish Black Sea held by Turkish National Oil Co. (TPAO) and a Petrobras affiliate.

By OGJ editors
HOUSTON, Jan. 14
– ExxonMobil Exploration & Production Turkey BV has agreed to acquire a 25% interest in 7.4 million acres in deep water of the Turkish Black Sea held by Turkish National Oil Co. (TPAO) and a Petrobras affiliate.

The interest, covering the Sinop, Ayancik, and Carsamba subblocks of the AR/TPO/3922 exploration license, comes from Petrobras, which retains 25%. TPAO holds 50%.

The companies didn’t provide details of the farm-in agreement, which is subject to government approval, or their exploration plans.

ExxonMobil said the deal builds on an agreement it made with TPAO in 2008 to jointly explore deepwater prospects in the Samsun block of the license and the eastern portion of the AR/TPO/3921 exploration license.

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