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FinancialNews
12-09-18
Turkey, Sudan ink USD100m agreement on oil exploration
(MENAFN) Turkey was declared to have inked a cooperation agreement with Sudan at a worth of USD100 million for exploring oil.
The Turkish agriculture and forestry ministry confirmed the agreement to be seeing firms in Turkey putting in a great number of square miles of Sudanese agricultural land for investment.
Sudan has selected 780,500 hectares (3,000 square miles) of land especially for Turkish companies' investment, assuring that it would "provide security of food supply for Turkey, Sudan and third countries," the ministry stated.
Turkey's Agriculture and Forestry Minister Bekir Pakdemirli added that an oil field development deal has also been signed by The Turkish Petroleum Corporation (TPAO) and Sudan's Ministry of Petroleum and Gas.
Pakdemirli explained that at first, the deal between TPAO and the Sudanese ministry will see an investment of as much as USD100 million.
MENAFN1209201800450000ID1097419992
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