World Bulletin / News Desk
Turkish Petroleum Corporation (TPAO) expects to produce 70 million barrels of oil in 25 years at its oil and gas fields in Baghdad.
Speaking to Anadolu Agency (AA) correspondent on Thursday, TPAO's Foreign Project Director Tayfun Yener Umucu reminded that the corporation had bought two gas and three oil fields following the bids in Baghdad earlier this year.
Umucu said that the corporation would spent 6.2 billion USD in 25 years to make investment at its gas and oil fields in Iraq.
"We are expecting 70 million barrels of oil in next 25 years in return for what we spent in there. This is an equivalency to investment we have made and the allowance we will receive," said Umucu.
Meanwhile TPAO signed an agreement with the Kuwait Energy and United Arab Emirates' Dragon Oil company on an oil field.
Turkey's Foreign Minister Ahmet Davutoglu will take over as the Prime Minister of the country and chairman of the ruling AK Party from outgoing president-elect Recep Tayyip Erdogan. Davutoglu has played a crucial role in Turkish foreign policy for more than a decade
Media claims that Turkey will hand over the Suleiman Shah base in Syria to the Islamic State (IS) in return for the release of 49 Turkish consulate staff kidnapped in Iraq's Mosul since June are an example of "irresponsibility", said Ankara.
“We are aiming to double our shares in the projects following years” said Turkish energy minister Taner Yildiz.
Today's newspapers covered claims that Germany's foreign intelligence agency has been spying on Turkey, further speculation on Turkey's future prime minister and President Barack Obama's comments on the killing of American journalist James Foley.
A spokesman for the Turkish Foreign Ministry urged the United States to respect press freedom.
An "anti-terrorism" campaign -- focusing on East Turkestan (Xinjiang), home to the Turkic Uighur Muslim ethnic group -- was launched by China’s central government May 23.
Turkish dailies reported Wednesday clashes over the demolition of a statue to a PKK founder, indications that Turkey's foreign minister could take over the prime ministerial post and protests over the death of an unarmed black teen in Missouri, the U.S.
Outgoing Turkish President Gul said 'As far as it seems, Foreign Minister Ahmet Davutoglu will take over as prime minister'
Turkey's year-end growth forecast increased to 2.7 percent, senior economist says.
The Eritrean capital Asmara becomes Turkish national flag-carrier's 42nd destination in Africa
One person has been confirmed dead after clashes broke out when security forces arrived to remove an illegal statue of a PKK leader.
Turkish Energy Minister Taner Yildiz called for the lifting of an Israeli blockade so power can be delivered to Palestinians.
Currently it is estimated that there are almost a million Syrian refugees in Turkey, about 70 percent of whom live outside the refugee camps.
Turkish dailies on Tuesday reported on the claims that Germany's foreign intelligence agency has been spying on Turkey and protests over the death of an unarmed black teen in Missouri, U.S.
Twenty out of 32 suspects accused of conducting illegal wiretapping detained in Izmir, Istanbul and Yalova.
A UN report also asserted that Ethiopia's low level of economic development, coupled with a heavy dependence on rain-fed agriculture and high population growth, made the country particularly vulnerable to the adverse impacts of climate change.