Turkey's TPAO in Talks with Chevron for Oil and Gas Exploration Partnership
Turkish Petroleum Corporation (TPAO) is in confidential talks with Chevron for a partnership aimed at enhancing oil and natural gas exploration, including seismic surveys and drilling, as Turkey seeks to reduce its import reliance. Despite prior collaborations, domestic gas production remains below targets, currently averaging 7.7 million cubic meters daily, with ambitious plans to increase output significantly by 2026 and 2028. The current production meets only 14% of residential demand, underscoring the necessity for further investment in drilling and infrastructure.
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Turkish Petroleum Corporation (TPAO) is in confidential discussions with Chevron Corporation for a partnership focused on oil and natural gas exploration, including seismic surveys and drilling. The negotiations come as Turkey aims to reduce reliance on imports by boosting domestic production.
TPAO previously partnered with Exxon Mobil for offshore exploration in the Black Sea and eastern Mediterranean. Despite investments, domestic gas production remains below targets, averaging 7.7 million cubic meters daily from the Sakarya field, with plans to reach 20 million cubic meters by Q3 2026 and 40 million by 2028. Current output meets about 14% of residential demand, highlighting the need for more drilling and infrastructure investment.
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