Baku, Azerbaijan, Aug.1
By Rufiz Hafizoglu – Trend:
The stage-by-stage privatization of Turkish Petroleum Corporation (TPAO) will start Sept.30, 2016, the Anadolu Agency reported Aug.1.
Applications for privatization will be received till Sept.30.
The decision to privatize the TPAO was made to liberalize Turkey’s energy market.
A 15-percent share will be put up privatization at the first stage and it is planned to increase this figure to 51 percent at the second stage.
TPAO accounts for around 70 percent of oil production in Turkey.
The company is the participant of several projects in Azerbaijan: development of Azeri-Chirag-Guneshli block of fields with 6.75-percent share; development of Shah Deniz gas and condensate field with 19-percent share; development of Araz-Alov-Sharg block of offshore structures (10 percent) and others.
Aside from Azerbaijan, TPAO also operates in Kazakhstan and Turkmenistan.
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