Türkiye's state-run oil company, Turkish Petroleum Corporation (TPAO), signed a memorandum of understanding (MoU) with U.S. major Chevron on possible energy cooperation, Energy and Natural Resources Minister Alparslan Bayraktar said on Thursday.
Bayraktar said on X that the agreement, signed in Istanbul, may also include oil and natural gas exploration and production, adding that Ankara aimed to develop joint projects both in Türkiye and internationally.
"In Istanbul, a Memorandum of Understanding was signed between our national oil company, TPAO and Chevron to evaluate potential collaborations in oil and natural gas exploration and production activities, and in the energy sector," the minister wrote on X.
"By supporting our work in Gabar and the Black Sea with our international initiatives, we will also contribute to our vision of transforming TPAO into a global company with a production capacity of 1 million barrels," he added.
The agreement was previously announced and comes after a similar agreement with ExxonMobil. The minister recently said this year would be "a record year" for natural gas in the country, pledging to boost exploration domestically and abroad.
As part of its efforts to curb imports and aiming for energy independence, Türkiye has recently added to its fleet two new drilling ships, Yıldırım and Çağrı Bey, which will be involved in operations on the country's northern coast in the Black Sea and Somalia, according to Bayraktar.
"We will soon sign new agreements for different international partnerships and share the concrete projects we have implemented with our nation," the minister reiterated on Thursday.
