Azerbaijan, Baku, Nov. 17 /Trend, A.Badalova/
Royal Dutch Shell's plans on exploration of energy resources in the eastern Mediterranean are part of the company's policy to expand the opportunities worldwide.
"We review our growth portfolio on a regular basis." Senior Spokesman of Shell International Jonathan French told Trend via e-mail. "We are continuously looking at opportunities worldwide."
Turkey's energy minister Taner Yildiz told the Hürriyet Daily News that Shell and TPAO (Turkish Petroleum Corporation) have agreed on onshore and offshore exploration of oil and natural gas in the maritime areas of [the southern province of] Antalya. The agreement between two sides will be signed on Nov. 23.
Yildiz also noted that this deal will be an important opening in the Mediterranean. "We are moving our strategic weight from the Black Sea to the Mediterranean Sea," Yıldız said.
According to Yildiz, Shell will initially undertake TPAO's current operation and finalize it within two years. He said that in accordance with the seismic data, it is planned to begin three years of drilling by the start of 2014.
"Of course it is not possible to tell if oil will be found with such exploration activities, but if the seismic and drilling activities are completed on time and we find oil off Antalya, we will be able to start production by the beginning of 2017," Yıldız said.