Turkish Petroleum, Chevron ink deal on oil, gas exploration
Türkiye’s national energy company Turkish Petroleum (TPAO) and US energy major Chevron have signed a memorandum of understanding to assess potential cooperation in oil and natural gas exploration and production, Türkiye’s energy and natural resources minister said on Thursday.
“With this Memorandum of Understanding, we aim to develop joint projects both in Türkiye and on an international scale,” Energy Minister Alparslan Bayraktar wrote on the Turkish social media platform NSosyal, News.Az reports, citing Anadolu.
Bayraktar said international initiatives under the agreement would support ongoing activities in the Gabar field in southeastern Türkiye as well as in the Black Sea. He added that the cooperation would also contribute to Turkish Petroleum’s long-term objective of becoming a global energy company with a production capacity of 1 million barrels.
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“We will soon sign new agreements for different international partnerships and share the concrete projects we have implemented with our nation,” the minister said.
The latest agreement follows an earlier memorandum of understanding between Turkish Petroleum and ESSO Exploration International Limited, a subsidiary of ExxonMobil, which covers new exploration areas in the Black Sea and the Mediterranean, as well as other potential regions.
By Nijat Babayev
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