The Turkish president says Brazil and Turkey will jointly explore for oil in the Black Sea, AP reported. President Abdullah Gul says Brazil's state-run oil company Petrobras and Turkey's state-run research company TPAO signed an agreement Friday to invest US$800 million (¤580 million) in the offshore drilling project. Gul says Black Sea oil production will likely to be possible in the coming years. He and visiting Brazilian President Luiz Inacio Lula da Silva announced the deal at a news conference. Silva's visit to Turkey is the first ever by a Brazilian head of state.