Statoil farms into Turkey onshore acreage

Statoil has entered a binding letter agreement into two exploration licenses in the Thrace region in the European north-western part of Turkey. 
Statoil will have a 50% interest in the Banarli licences, while the operator Valeura Energy Inc., a Canadian exploration company listed on the Toronto Stock Exchange will keep the remaining 50%. The shallow formations above 2,500 meters will be 100% retained by Valeura. …