Petrobras signs oil deal
Güncelleme Tarihi:
Hürriyet Daily News
Oluşturulma Tarihi: Mayıs 23, 2009 00:00
ANKARA - TPAO and Petrobras, state-owned energy companies of Turkey and Brazil, will search for oil in the Black Sea in a $800 million investment. The giant investment is jointly announced by President Abdullah Gül and his Brazilian counterpart Luiz Inacio Lula da Silva
Turkey and Brazil agreed to jointly explore for oil in the Black Sea in a $800 million (580 million euros) investment, the two countries’ presidents announced Friday at press conference in Ankara.
The two countries’ state-run companies, Turkey’s TPAO and Brazil’s Petrobras, signed an offshore drilling agreement during Brazilian leader Luiz Inacio Lula da Silva’s three-day visit to Turkey.
"Thanks to this agreement, oil production will likely be possible in the Black Sea in the coming years," President Abdullah Gül said. Acknowledging that Petrobras has deep experience in offshore drillings, Gül said the results of initial explorations were promising. Lula, meanwhile, said that his government wanted Petrobras "to become the world's leading oil company... and for that to happen it has to invest and work in other countries."
Lula da Silva, known only as Lula, is the first Brazilian president visiting Turkey, though the relations of two countries’ date back to 19th century. "We must take our relations to a new level. There is great potential and we have to take advantage of it," Gül said, adding both countries are willing to boost bilateral trade. The Turkish President expressed Turkey’s intention to sign a free trade agreement with Mercosur, a regional trade agreement between Argentina, Brazil, Paraguay and Uruguay founded in 1991. "With the support of President (Lula) this agreement will be completed in near future and our trade relations will be bolstered," Gül noted.
Gül also mentioned about Brazilian football players in Turkey who contributed to the improvement of social and cultural ties between the two countries. Some Brazilian football players were also invited to the official dinner scheduled for Friday night but only few could attend due to the weekend’s league matches.
Lula said this visit helped both countries to look into ways to develop ties in all possible fields. Pointing to the similarities between the two countries, Lula stated that cooperation on "industrialization, technology and trade" could be best areas to the interest of both countries.
According to Lula, Turkish and Brazilian private sector could jointly produce ethanol in Africa if they would be mobilized by the governments. The only way, he said, to win back the wasted time in the development of bilateral ties is to move quick and get the results in three to four years of time.
"Turkey is the single country you can move from one continent to the other by just taking one step," Lula noted. On the other hand, Brazil is the one of the most important countries of South America, he added, pointing that both countries were playing similar roles in their respective regions.
The two countries’ state-run companies, Turkey’s TPAO and Brazil’s Petrobras, signed an offshore drilling agreement during Brazilian leader Luiz Inacio Lula da Silva’s three-day visit to Turkey.
"Thanks to this agreement, oil production will likely be possible in the Black Sea in the coming years," President Abdullah Gül said. Acknowledging that Petrobras has deep experience in offshore drillings, Gül said the results of initial explorations were promising. Lula, meanwhile, said that his government wanted Petrobras "to become the world's leading oil company... and for that to happen it has to invest and work in other countries."
Lula da Silva, known only as Lula, is the first Brazilian president visiting Turkey, though the relations of two countries’ date back to 19th century. "We must take our relations to a new level. There is great potential and we have to take advantage of it," Gül said, adding both countries are willing to boost bilateral trade. The Turkish President expressed Turkey’s intention to sign a free trade agreement with Mercosur, a regional trade agreement between Argentina, Brazil, Paraguay and Uruguay founded in 1991. "With the support of President (Lula) this agreement will be completed in near future and our trade relations will be bolstered," Gül noted.
Gül also mentioned about Brazilian football players in Turkey who contributed to the improvement of social and cultural ties between the two countries. Some Brazilian football players were also invited to the official dinner scheduled for Friday night but only few could attend due to the weekend’s league matches.
Lula said this visit helped both countries to look into ways to develop ties in all possible fields. Pointing to the similarities between the two countries, Lula stated that cooperation on "industrialization, technology and trade" could be best areas to the interest of both countries.
According to Lula, Turkish and Brazilian private sector could jointly produce ethanol in Africa if they would be mobilized by the governments. The only way, he said, to win back the wasted time in the development of bilateral ties is to move quick and get the results in three to four years of time.
"Turkey is the single country you can move from one continent to the other by just taking one step," Lula noted. On the other hand, Brazil is the one of the most important countries of South America, he added, pointing that both countries were playing similar roles in their respective regions.