After investing $4 billion in oil exploration in the Black Sea, the Turkish Petroleum Corporation, or TPAO, has announced potentially significant stores of oil and natural gas that could meet Turkeys energy needs for decades. We believe there are 10 billion barrels worth of producible oil and 3 trillion cubic meters of producible natural gas in the Black Sea, TPAO general director Mehmet Uysal said Thursday. If TPAO could find this much oil or natural gas in the Black Sea, Turkeys energy needs would be met for the next 40 years, Uysal said. The general director added that TPAO would invest $50 billion to $60 billion if oil production were to start in the Black Sea. According to Uysal, TPAO believes there is a significant oil and natural gas potential in the Mediterranean as well. (...) TPAO's investments in Black Sea reach $4 billion - Hurriyet Daily News and Economic Review International Partners in Black Sea exploration are: - Chevron - BP - Petrobras - Exxon (down picture is bit old, Exxon not marked) LINK: Exxon to enter Black Sea in 2011 Turkish TPAO has also in consortium with BP and Chevron the exploration rights in Georgian part of Black Sea.