T.P.A.O. In Iraq

ANKARA (A.A) - 21.07.2002 - The Turkish Petroleum International Company (TPIC), a subsidiary of the Turkish Petroleum Corporation (TPAO), will carry out drilling works in three different areas in Iraq as it earlier won the international drilling tender by the Iraqi Oil Ministry.
Sources said on Sunday that the company which got necessary permission from the United Nations had already sent drilling equipment to those areas.
At first stage, TPIC would receive money in return for its drilling works instead of share in production, sources added.
TPIC is expected to conclude a part of its drilling works in Iraq by the end of this year.