Articles

Energy: Oil & Gas, Turkey - Law & Practice

1. General Structure of Petroleum Ownership and Regulation
1.1 System of petroleum ownership
Under the Turkish Petroleum Law No 6491, the term “petroleum” includes both crude oil and natural gas.
Petroleum resources in Turkey are owned by and are at the disposal of the state. However, upstream interests are granted by way of licences with definite terms. In such cases, exploration and exploitation licence-holders must pay to the state a one-eighth share (12.5%) as a royalty for petroleum produced from an exploration or production area...

 

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First published by Chambers and Partners, Global Practice Guides, Energy: Oil & Gas, Turkey - Law & Practice 2016.

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