Energy: Oil & Gas

Under the Turkish Petroleum Law, No 6491, the term “petroleum” includes crude oil and natural gas.

According to the Turkish Petroleum Law, No 6491, crude oil and natural gas are classified as "petroleum" and the state has control over all petroleum resources in the country. However, the state grants licenses with specific terms for upstream interests, requiring those holding exploration and production licenses to pay a 12.5% royalty to the state for any petroleum extracted from the designated exploration or production area.

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