TPAO in Libya: initial results are promising

TPAO in Libya: initial results are promising
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Published October 5th, 2010 - 11:06 GMT

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Executive Board
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Organization of Petroleum-Exporting Countries

The Turkish Petroleum Overseas Company (TPOC), a wholly owned subsidiary of Turkish Petroleum Corporation (TPAO), says it has recently started to see the fruitful results of the aggressive exploration work it has conducted in Libya since 2000.

TPAO is one of several operators taking part in the annual North Africa Oil & Gas Summit in Vienna from 2-4 November this year. OPEC Secretary General H.E. Abdalla S. El-Badri will deliver a keynote address to the many top decision makers from Libya, Egypt, Algeria, Tunisia, Morocco and Mauritania who will be present at the fifth annual summit which is regarded as the industry's leading initiative to facilitate easy access to the North African oil and gas industry.

"We are confident that we can make a difference"

The general manager of TPOC Libya, Dr. Ahmet Tandircioglu, says "the exploration wells drilled in Area 147/3-4 resulted as new oil discoveries which we plan to put on stream in the earliest time. Production testing operations currently continue and the initial results are promising." He says he believes that there is still significant exploration potential in Libya for companies with a good understanding of petroleum geology of Libya and ready "to test new play concepts". "As TPOC", Dr. Tandircioglu continues, "we are interested in new exploration areas in Libya and we are confident that we can make a difference and create adding value for Libyan upstream industry."

The chairman of Libya's National Oil Corporation, H.E. Dr Shokri Ghanem, will also be speaking at the North Africa Oil & Gas Summit.

More confirmed high-level speakers and industry experts for North Africa Oil & Gas Summitinclude:

H.E. Eng. Sameh Fahmy, Minister of Petroleum, Arab Republic of EgyptKhaled Becheikh, President & CEO, ETAP (Entreprise Tunisienne D'Activités Petrolières)Jaap Huijskes, Member of the Executive Board, Head of E&P, OMV AktiengesellschaftGuido Michelotti, Executive Vice President North Africa and Middle East Region, Eni E&P DivisionFerdinando Rigardo, Regional Executive Director Europe, Asia & Africa, Upstream, REPSOLMehmet Uysal, President and CEO, TPAO (Turkish Petroleum Corporation)

· Rt.Hon.Lord Howell of Guildford, Minister of State at the UK Foreign and Commonwealth Office

· Jean-Francois Arrighi de Casanova, Senior Vice President North Africa E&P, TOTAL SA

Trevor Morgan, Senior Economist, International Energy Agency (IEA) 

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