Azerbaijan, Baku, Oct. 15 / Trend A. Taghiyeva /
Shell plans to explore for oil along the Black Sea coast of Turkey, Shell Turkey director Ahmet Erdem said on Monday, Sabah newspaper reported.
The company has appealed to the Turkish Petroleum Corporation (TPAO) to get a licence for exploration. It is reported that the cost of drilling a well will reach $300 million.
Earlier, the exploration operations were conducted along the Black Sea coast of Turkey in search of natural gas. The exploration was conducted by such companies as Petrobras, Chevron and Exxon Mobil.
Natural gas reserves were discovered as a result of this work. The project cost was $1.5 billion.