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Turkey’s TPAO, Chevron agree joint oil, gas exploration

eKathimerini.com · last updated
Turkey’s TPAO, Chevron agree joint oil, gas exploration

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Turkey’s state-run TPAO Petroleum and US giant Chevron Corp. signed an agreement Thursday to jointly explore for and produce oil and gas.

Turkish Energy Minister Alparslan Bayraktar said TPAO hopes to reach production levels of 1 million barrels of oil per day within the coming years.

“We have reached an agreement with two international companies this month,” he said. “We will sign specific projects with them.” TPAO has also signed a deal with Exxon Mobil Corp unit Esso for exploration in the Black Sea and the Mediterranean. 

Turkey is seeking to reduce its dependence on Russian oil and gas.

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