SOCAR Turkey Energy obtains licenses for petroleum exploration in Turkey

APA-Economics reports quoting an official newspaper published in Turkey that the General Directorate granted 7 licenses to "SOCAR Turkey Enerji A.Ş.” and "OPC Petrol Arama ve Üretim Ltd” for carrying out petroleum exploration in Gaziantep, Kahramanmaraş, Diyarbekir, Adıyaman, Batman, Mus, Mardin and Sirnak for 5 years.

According to the document, SOCAR Turkey Enerji A.Ş. won a total of 4 licenses, including 1 in Gaziantep and Kahramanmaraş regions, 1 in Diyarbekir, 1 in Adıyaman and 1 in Diyarbekir, Batman, Muş regions to conduct oil exploration.

Under the terms of license, "SOCAR Turkey Enerji A.Ş.” and "OPC Petrol Arama ve Üretim Ltd” shall present investment provision of 2% to the department in exchange for the work and investment program under its commitments within 30 days.

SOCAR has been carrying out its activities in Turkey under the name of SOCAR Turkey Enerji A.S. since May 30, 2012.