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.
Gurbulak-Bazargan customs gate between Iran and Turkey to be rebuilt, Turkish trade minister Tufenkci says
Friday's dailies cover speculation on the identity of the person behind Wednesday's deadly blast in Bursa
Mortar shells had been fired into Gaziantep province, which borders Syria
Says China’s deputy PM has told him a committee will be sent to Turkey to review travel warning issued to Chinese citizens
Ash Carter grilled by lawmaker about US support to PKK offshoot in Syria
New deal involves military agreement to deploy Turkish Armed Forces (TSK) to Qatar
Thursday's newspapers cover Turkish President Erdogan's remarks on secularism debate plus a suicide bomb attack in northwestern province of Bursa
20 others wounded after a female suicide bomber blew herself at a historic bazaar in northwestern Bursa province
So far, 325,000 Syrian children have been schooled, Turkish minister of national education says
Ahmet Davutoglu's remarks come hours after suicide blast in Bursa in northwestern Turkey
Turkish Development Minister Yilmaz meets Kurdish Regional Government's Deputy PM Talabani
Turkish president appreciates Croatia for allowing Muslims to freely practice their faith
Attack takes place at entrance of historic bazaar in Bursa near Ulu Mosque
EU foreign policy chief and European Commission president say Turkey to get visa-free deal if all 72 criteria are met
We need to raise our economic and commercial ties to meet the level of our political ties, says Turkish President Erdogan
'Secularism will feature in the new constitution we draft as a principle that guarantees citizens' freedom of religion,' Turkish premier says