The exploration program is to collect 1,000km of 2D seismic data and 8,000km of airborne gravity gradiometry and magnetic data in Turkey’s Sivas Basin, where TransAtlantic holds exploration licenses covering 1.6 million acres.
The agreement also provides an option for Shell to farm in on the leases after it assesses the data collected.
TransAtlantic Petroleum holds interests in developed and undeveloped oil and gas properties in Turkey, Bulgaria and Romania.
