Petrol Ofisi Secures Offshore Stake

摘要

Turkish oil retailer Petrol Ofisi said February 3 that it had reached an agreement with US-based upstream operator Toreador Resources to buy a 26.75% stake in eight contiguous blocks of the Akcakoca gas field off Turkey's west Black Sea coast for a reduced price of $55 million. The companies agreed on a sale price of $80.25 million last August (EiEE 146/37), but the recent fall in oil prices prompted a renegotiation of the deal. "Following the renegotiations that took place between Petrol Ofisi and Toreador with regard to the Akcakoca project, parties have agreed on terms of sale with respect to the acquisition of a 26.75% stake out of Toreador's 36.75% interest in exchange of $55 million," Petrol Ofisi said in a statement.