TransAtlantic in talks to buy Zorlu oil, gas unit

ISTANBUL (Reuters) - Canada-based energy company TransAtlantic Petroleum Ltd TAT.ATNP.TO is in talks to buy the oil and gas division of Zorlu Enerji ZOREN.IS, Zorlu Group Chairman Ahmet Nazif Zorlu told Reuters on Friday.

Shares in Zorlu Enerji were up 4.5 percent at 3.26 lira at 1430 GMT.

“Talks are being held,” Zorlu said, without providing details.

In a subsequent statement, Zorlu Enerji said it and TransAtlantic were in discussions on the sale of Amity Oil Pty Ltd and Zorlu Petrogas Petrol Gaz ve Petrokimya Ürünleri Insaat Sanayi ve Ticaret A.S.

TransAtlantic Petroleum Ltd is involved in the acquisition, development, exploration, and production of crude oil and natural gas.

It has interests in developed and undeveloped oil and gas properties in Turkey, Morocco, Romania, and California.

Reporting by Ceyda Caglayan; Editing by Erica Billingham