Türkiye's state company, Turkish Petroleum Corporation (TPAO), signed a partnership agreement with Shell to jointly carry out exploration work in Bulgaria's maritime zone, the Energy and Natural Resources Ministry said Wednesday.
Energy and Natural Resources Minister Alparslan Bayraktar said the companies will jointly explore the Khan Tervel block, located near Türkiye's flagship Sakarya gas field, and will hold a five-year licence in Bulgaria's exclusive economic zone.
"Turkish Petroleum (TPAO) continues its series of agreements. A 'partnership agreement' has been signed between TPAO and the British energy giant Shell. According to this agreement, TPAO and Shell have partnered for exploration activities in the Khan Tervel Field, located within Bulgaria's maritime jurisdiction," the ministry said in a written statement.
The agreement was signed in Istanbul in the presence of executives from both companies, it added.
"Building on the cooperation we began with Shell in 2024, we have now signed a partnership agreement in a concrete block, the Khan Tervel Field located in Bulgaria's exclusive economic zone," Bayraktar said.
He also noted that the area in question encompasses slightly more than 3,800 square kilometers, adding that they will be conducting seismic activity jointly with Shell. "Then, God willing, we will drill an exploration well here next year, with a license of approximately five years."
Since the start of this year, TPAO has signed energy cooperation agreements with major companies in the field, including ExxonMobil, Chevron and BP.
