Turkiye Petrolleri (TPAO) has signed a partnership agreement with Shell to carry out exploration work in Bulgaria's maritime zone, the Turkish energy ministry and British oil major said on Wednesday.
European Union member Bulgaria, which had been totally dependent on Russian gas until 2022, has been seeking to diversify its gas supplies and find cheaper sources.
TPAO and Shell will jointly explore the Khan Tervel block, located near Turkey's Sakarya gas field, and will hold a five-year licence in Bulgaria's exclusive economic zone, Minister Alparslan Bayraktar said.
Shell will continue as operator of the block, while TPAO will take a 33 per cent interest in the licence, a Shell spokesperson said.
Since the start of this year, TPAO has signed energy cooperation agreements with ExxonMobil, Chevron and BP for possible exploration work in the Black Sea and the Mediterranean.
In April, Shell signed a contract with Bulgaria's government to allow the oil major to explore 4,000 square metres in the block.
(Reporting by Can Sezer, Ece Toksabay and Stephanie Kelly; Editing by Anil D'Silva)
