BP and Türkiye’s state energy company Türkiye Petrolleri A.O. (TPAO) have signed a memorandum of understanding setting out a framework for cooperation in oil and gas exploration and production. The arrangement also covers joint work on developing oil and natural gas fields, assessing areas with exploration potential, and coordinating on oil export capacity and natural gas transport infrastructure at the regional and international levels.
Türkiye’s Minister of Energy and Natural Resources Alparslan Bayraktar said the most immediate priority under the cooperation is Iraq, with attention focused on Iraqi fields. He added that Libya is another shared topic and said possible collaboration could also be reviewed for projects involving Central Asia, including Kazakhstan and Azerbaijan, with the intention of sharing concrete developments publicly this year.
Bayraktar also pointed to TPAO’s production ambitions, saying the company is expected to produce around 500,000 barrels of oil and gas in 2028. He said steps have been taken to work with other industry players in pursuit of raising production to 1 million barrels, and added that TPAO and BP aim to extend cooperation into additional fields and countries.
The MoU was signed by Cem Erdem, General Manager of TPAO, and Andrew McAuslan, BP’s Head of Global Oil and Gas Business Development, in the presence of Bayraktar.
On Libya-related activity, Bayraktar said TPAO secured licensing rights in two blocks—one offshore and one onshore—through a tender that he said marked Libya’s first international round in about 17 years. He said the work will be carried out with Spanish partner Repsol, with TPAO taking a 40% stake in both the onshore and offshore areas. He also said the offshore block includes Hungary’s MOL as a partner and described the steps as part of an outward growth strategy.
Bayraktar said another agreement is expected to be signed next week, describing it as a separate and more specific partnership linked to a defined location and country.
The BP MoU follows TPAO’s recent agreements with other majors, including deals with Exxonmobil on 8 January 2026 and Chevron on 5 February 2026.
