Turkish Petroleum Corporation (TPAO) have signed a Memorandum of Understanding (MoU) in the oil and natural gas sector with ExxonMobil's subsidiary ESSO Exploration International Limited, covering new exploration areas in the Black Sea and the Mediterranean, as well as other potential international areas to be mutually agreed upon.

Under the MoU, TPAO and ExxonMobil will evaluate potential areas of cooperation including oil and natural gas exploration and production, natural gas development, liquefied natural gas (LNG), and the application of advanced technologies to improve operational efficiency and project performance. The agreement also emphasizes knowledge sharing, technical collaboration, and the exchange of best practices in safety, environmental management, and operational excellence.

The MoU demonstrates a shared commitment to responsible energy development, including high standards of safety, environmental stewardship, and sustainability. It provides a framework for future discussions and evaluations of potential joint initiatives, subject to further agreements and regulatory approvals.

The MoU is non-binding and does not constitute a final investment decision or commitment by either party.

KeyFacts Energy: TPAO Turkey country profile