Turkey Petrolleri joins Shell-led oil and gas exploration in Bulgaria's Black Sea

Turkey Petrolleri Anonim Ortaklık (TPAO) received a 33% share in the Khan Tervel Block 1‑26 offshore oil and gas licence in Bulgaria’s Black Sea exclusive economic zone. The Bulgarian Council of Ministers approved the transfer of rights from Shell, which retains a 42% stake and acts as operator, while OMV holds the remaining 25%. The block covers roughly 3,800 km². Energy and Natural Resources Minister Alparslan Bayraktar said the area lies close to Turkey’s Sakarya gas field and expects seismic work now and possibly a drilling well next year under a licence of about five years.