Turkish Petroleum's Series of Agreements Continues
The series of agreements by Turkish Petroleum (TPAO) continues. A ‘partnership agreement’ was signed between TPAO and British energy giant Shell. Accordingly, TPAO and Shell have partnered for exploration activities in the Khan Tervel Field in Bulgaria's maritime jurisdiction. Explaining that the field in question is close to the Sakarya Gas Field, Minister of Energy and Natural Resources Alparslan Bayraktar said, “We will have a 5-year license in Bulgaria's Exclusive Economic Zone.”
Following agreements signed with ExxonMobil on January 8, Chevron on February 5, and BP on February 12, TPAO has taken another step forward in oil and natural gas exploration. A “Partnership Agreement” was signed between TPAO and Shell. The agreement was signed by TPAO General Manager Cem Erdem and Shell Senior Vice President Eugene Okpere at a ceremony held in Istanbul.
Partnership in Bulgaria's Exclusive Economic Zone
According to the agreement, accompanied by Minister of Energy and Natural Resources Alparslan Bayraktar, TPAO has become a partner in the exploration activities operated by Shell under the Block 1-26 Khan Tervel Field Oil and Natural Gas Exploration License located in Bulgaria's exclusive economic zone.
Growth Strategy
Following the signing ceremony, Minister Bayraktar commented on the agreement. Bayraktar stated that the series of agreements continues within the scope of the strategy to “grow Turkish Petroleum abroad,” which they have been pursuing since the beginning of the year.
Khan Tervel Field
Bayraktar said, “Building on the cooperation we started with Shell in 2024, we have now signed a partnership agreement for a specific block in the Khan Tervel Field, located in Bulgaria's exclusive economic zone.”
Seismic Operations First
Bayraktar pointed out that the area in question is slightly larger than 3,800 square kilometers, stating, "This area is quite close to our Sakarya Gas Field. In this field, located in Bulgaria's exclusive economic zone, we will have a five-year license for seismic activity in partnership with Shell and then, hopefully, an exploration well here next year."
Our Capabilities at Sea Contributed to the Partnership
Highlighting Türkiye's exploration and production capabilities at sea, Minister Bayraktar said, “They definitely needed foreign partners; foreign companies had to do this. They chose Shell and us. Our capabilities at sea and the experience we have gained to date have made a very serious contribution to these countries or companies choosing us as a partner.”