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    Today's Zaman: Shell, TPAO to ramp up shale gas, oil investments in Turkey

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Summary

Shell in Turkey expects to intensify investments in shale gas and oil jointly with their partner the Turkish Petroleum Corporation (TPAO) in Turkey.

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Press Notes

Today's Zaman: Shell, TPAO to ramp up shale gas, oil investments in Turkey

Royal Dutch Shell's Turkey branch expects to intensify investments in shale gas and oil jointly with their partner the Turkish Petroleum Corporation (TPAO) in Turkey, the company said on Sunday.

Shell Turkey Country Manager Ahmet Erdem said Sunday in İstanbul they would pour “a couple of millions of dollars” into energy research studies in Turkey over the next three to four years. Erdem's statements follow earlier comments by Economy Minister Zafer Çağlayan, who said he expected the energy firm to introduce new investments to be made in Turkey. “The minister is referring to our joint projects with TPAO, particularly those carried out in southeastern Turkey and off the Mediterranean coast,” Erdem said. Shell and Turkey's state oil company are currently conducting studies for the exploration and drilling of shale gas in the Southeast and oil in the Mediterranean. The official said a third project for oil drilling in the Black Sea currently is awaiting government approval.  MORE