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Turkey refuses to grant oil exploration license to SOCAR

Turkey refuses to grant oil exploration license to SOCAR

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Date: 11 January 2016 15:47

Baku, Azerbaijan, Jan. 11

Trend:

Turkey has refused to issue a license for the SOCAR Petrol Arama ve Uretim Ltd., a subsidiary of Azerbaijan’s State Oil Company, for exploration of oil deposits in Turkey’s Tekirdag region, read a message posted on the website of the Turkish Official Gazette Jan. 11.

Reportedly, the company appealed to Turkey for the license back in June 2015.

“Based on a number of articles of Turkish Petroleum Law, it was decided to refuse issuing a license for the SOCAR Petrol Arama ve Uretim Ltd. for oil exploration in an area of 14.537 hectares in the Tekirdag region,” said the message.

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