Türkiye Petrolleri Anonim Ortaklığı (TPAO) has entered into a new partnership agreement with Shell, further expanding its international portfolio in oil and natural gas exploration. The agreement was formalized at a signing ceremony in Istanbul, attended by TPAO General Manager Cem Erdem and Shell Senior Vice President Eugene Okpere.
Joint Exploration in Bulgaria’s Exclusive Economic Zone
Under the agreement, TPAO will participate in exploration activities led by Shell in the Block 1-26 Khan Tervel zone, situated within Bulgaria’s Exclusive Economic Zone. This partnership includes an exploration license for oil and gas, with Shell acting as the operator. The signing was witnessed by Minister of Energy and Natural Resources Alparslan Bayraktar, who emphasized the strategic significance of the collaboration.
Proximity to Turkish Discoveries
Minister Bayraktar noted that the Khan Tervel Block, covering over 3,800 square kilometers, is located close to Turkey’s Sakarya Gas Field. The initial phase will focus on seismic surveys, with the potential for drilling an exploration well in the coming year. The agreement grants the partnership a five-year license to operate in the area.
TPAO’s International Growth Strategy
Minister Bayraktar highlighted that this agreement is part of TPAO’s ongoing strategy to expand internationally, following recent deals with ExxonMobil, Chevron, and BP. He underlined that TPAO’s experience and capabilities in offshore exploration and production have made it a valuable partner for international companies.
Contribution of Turkish Offshore Expertise
Bayraktar stated, “Our expertise and experience in offshore operations have played a significant role in making TPAO a preferred partner for such international ventures.”
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