Türkiye Petrolleri Anonim Ortakligi (TPAO)

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Turkey

Date: November 2008

Deal: According to Iran Daily, a preliminary deal was signed for Turkey to invest $12 billion in Iran's South Pars gas field (Iran Daily, November 18, 2008). The deal, according to a Turkish newspaper, includes a development investment in phases 22, 23 and 24 of South Pars (Hurriyet, November 18, 2008). As of September 2009, the deal was not finalized and discussions were held in Tehran between Turkish and Iranian ministers. However according to Hurriyet, "Turkey is planning to make a $3.5 billion investment in Iran for the exploration and production of natural gas" (Hurriyet, September 10, 2009).