By Orhan Coskun and Thomas GroveISTANBUL, Aug 29 (Reuters) – Turkey is holding talks with Germany’s RWE AG (RWEG.DE: Quote, Profile, Research) and U.S. Chevron (CVX.N: Quote, Profile, Research) on conducting oil exploration in the Black Sea, a senior Turkish energy ministry source told Reuters on Friday.
Major oil importer Turkey is looking to develop its oil exploration activities as part of efforts to reduce its large fuel bill.
The source said Turkish oil company TPAO planned to open six wells in the Black Sea, of which two will be opened with Brazil’s Petrobras.
“Talks with U.S. Chevron are continuing. These talks have reached an important stage. A partnership may also be established with RWE for some licenses belonging to TPAO,” the source said on the sidelines of an energy conference in Istanbul.
“There are indications that the Black Sea could be an oil production region like the Caspian. We are expecting good news from the exploration there in 2009,” Energy Minister Hilmi Guler said at the same conference.
Mehmet Uysal, general director of TPAO, said earlier this year the company would start oil exploration in the Black Sea with Brazil’s Petrobras next year.
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