TPAO and TotalEnergies sign a memorandum for hydrocarbon exploration, focusing on joint assessments in Turkey and beyond.
Turkey Petroleum Corporation (TPAO) and the French energy company TotalEnergies have signed a memorandum of understanding regarding hydrocarbon exploration activities. This agreement encompasses the joint evaluation of potential exploration areas both domestically and abroad, particularly in Turkey's Black Sea region.
With the signed memorandum, a framework for cooperation has been established between the two companies for technical information sharing, joint assessment studies, and the development of new exploration opportunities.
Joint Evaluation in the Black Sea and International Waters
Nicola Mavilla, Senior Vice President of Exploration Activities at TotalEnergies, stated in a press release regarding the agreement that they are pleased with the collaboration initiated with TPAO. He expressed that opportunities that will provide mutual benefits in the Black Sea region and international areas will be evaluated by leveraging the technical expertise of both companies.
A New Step in Turkey's Energy Diplomacy
Energy and Natural Resources Minister Alparslan Bayraktar also announced last month that an agreement with TotalEnergies in the hydrocarbon sector would be signed shortly as part of similar processes being conducted with other major energy companies.
Collaborations with Global Companies Continue
Recently, TPAO has increased its collaborations with international energy giants. In February, a partnership was established with Shell for oil and natural gas exploration activities in the Khan Tervel field located off the coast of Bulgaria.
Additionally, memoranda of understanding have been signed with Chevron and BP, while ExxonMobil became the first company to reach an agreement with TPAO for cooperation in exploration activities in the Black Sea and Mediterranean.
Source: SeaNews Türkiye
