Bayraktar: TPAO to become shareholder in Shafag-Asiman gas field project

The Turkish Petroleum Corporation (TPAO) will become a partner of the State Oil Company of Azerbaijan (SOCAR) and the BP in the project to develop the Shafag-Asiman gas field in the Azerbaijani sector of the Caspian Sea, Turkish Minister of Energy and Natural Resources Alparslan Bayraktar told journalists in Baku as part of the 30th Caspian Oil and Gas Exhibition, Report informs via TRT Haber.

"TPAO is entering the Shafag-Asiman gas field as a partner. I hope we will conclude an agreement here as part of the Baku Energy Week... I hope we will also begin production at this field," the minister said. He added that TPAO will receive a 30% stake in this project.

"TPAO's presence here will increase. We are also discussing other fields. In particular, we plan to intensify work in the Caspian Sea," he noted.

He stressed that energy projects in Türkiye and Azerbaijan contribute to Europe's energy security: "In the near future, I hope, there will be new steps on projects related to gas supplies to Europe from alternative sources."

Speaking about the development of renewable energy sources in Azerbaijan, Bayraktar added that in the future, projects will be jointly developed to produce green energy in Nakhchivan, deliver it to Türkiye and then - in transit through Türkiye - to Europe.