TPAO and ExxonMobil Sign Memorandum of Understanding
The Turkish Petroleum Corporation (TPAO) and ESSO Exploration International Limited, a subsidiary of U.S.-based ExxonMobil, have signed a Memorandum of Understanding (MoU) to explore for natural gas and oil.
Minister Bayraktar’s Statement
Minister of Energy and Natural Resources Alparslan Bayraktar announced on his X account:
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“Our national oil company TPAO and ExxonMobil’s subsidiary ESSO Exploration International Limited have signed a Memorandum of Understanding covering new exploration areas in the Black Sea and the Mediterranean, as well as other potential international regions to be mutually agreed upon in the oil and natural gas sector.”
Bayraktar added:
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“By combining our technical capabilities in deep-sea exploration and drilling with ExxonMobil’s international experience, we aim to increase our operational efficiency and pave the way for new discoveries. In line with our goal of an energy-independent Turkey, we are strengthening our institutional capacity through international cooperation and advancing on the path to becoming the energy hub of our region.”
