Turkey`s TPAO making hefty profits from Azeri projects
Turkish TPAO company is collecting considerable
revenues from its participation in large-scale energy projects in
Azerbaijan, including the development of the Azeri-Chirag-Gunashli
(ACG) fields in the Caspian Sea and investing the acquired funds in
oil and gas fields in Iran and Iraq, TPAO chief executive Mehmet
Uysal has said.
According to Uysal, TPAO is among 35 companies taking part in a tender announced by the Iraqi government for oil projects. The company plans to invest as much as $10 billion in the country`s extractive industries if its bid is successful.
TPAO also intends to invest as much as $6 billion in Iran`s huge South Pars gas field, which will produce 16 billion cubic meters of gas per year.
Uysal said, further, that Turkey aims to eliminate the reliance of its energy sector on other countries by 2023, the year marking the 100th anniversary of the Turkish Republic.
According to Uysal, TPAO is among 35 companies taking part in a tender announced by the Iraqi government for oil projects. The company plans to invest as much as $10 billion in the country`s extractive industries if its bid is successful.
TPAO also intends to invest as much as $6 billion in Iran`s huge South Pars gas field, which will produce 16 billion cubic meters of gas per year.
Uysal said, further, that Turkey aims to eliminate the reliance of its energy sector on other countries by 2023, the year marking the 100th anniversary of the Turkish Republic.
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