ExxonMobil and Turkish Petroleum (TPAO) have signed a memorandum of understanding (MoU) to jointly evaluate exploration and development opportunities offshore Turkey, with a focus on the Black Sea and the Mediterranean.
Turkey’s Energy Minister Alparslan Bayraktar said the MoU was signed between TPAO and ESSO Exploration International Limited, an ExxonMobil affiliate. He described the agreement as a framework to improve operational efficiency by pairing TPAO’s deepwater exploration and drilling capabilities with ExxonMobil’s international experience. Bayraktar also noted that the parties could consider additional areas for cooperation by mutual agreement.
In a separate statement, ExxonMobil said it intends to work with the Turkish government and TPAO to evaluate Turkey’s potential and apply its technical capabilities to jointly explore for new resources in a safe and responsible manner.
Neither side provided details on prospective acreage, specific exploration targets, or a timetable for next steps. As presented, the MoU establishes an evaluation track rather than confirming a final investment decision.
