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ExxonMobil is to team up with Brazil’s Petrobras for an exploration project in the Black Sea, off the Turkish coast.
AP reported that the US supermajor will join forces with Petrobras’s Turkish affiliate to explore a deepwater 7.4 million acreage.
“We are pleased to add this prospective acreage to our global portfolio and expand our presence in the deepwater Black Sea,” Russ Bellis, exploration director of ExxonMobil International is reported by AP as saying.
ExxonMobil Exploration will take a 25% stake in the Sinop, Ayancik and Carsamba sub-blocks, with Petrobras, Production Turkey remaining the operator and retaining a 25% stake.
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