22 May 2025
22 May 2025
The reserve estimates could position Türkiye in the global oil market above some OPEC countries.
The findings estimate around 473mbbl of oil and 27tcf of natural gas, with resources extending into Colorado and Utah.
The company is targeting blocks with potential reserves of approximately 15tcf of gas and is currently evaluating opportunities.
The scheme is a strategic response to the dual challenge of declining natural gas supplies in Sumatra and rising domestic demand.
The company will utilise its vertically integrated ODaaS and Absolute Ocean solutions.
The move follows President Vladimir Putin's directive to expedite the Tomtor project's development.
At the SelectUSA Investment Summit, delegates told Investment Monitor that tariff uncertainty is delaying investment decisions.
The project was a JV with Confidence Petroleum India and Ganesh Benzoplast.
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