Turkish Petroleum, Chevron sign MoU for joint oil and gas exploration

State-owned company Turkish Petroleum Corporation (TPAO) signed a Memorandum of Understanding (MoU) with Chevron Business Development EMEA Ltd.

The understanding will allow Chevron and TPAO to carry out joint exploration and production activities for oil and gas fields both onshore and offshore, TPAO said in a post to its official LinkedIn page.

Alparslan Bayraktar, Turkey’s Minister of Energy and Natural Resources, said TPAO was continuing to work intensively to increase its production in Gabar and the Black Sea.

The MoU follows one TPAO signed with ExxonMobil Corp. subsidiary Esso Exploration International Ltd. in January for exploration in the Black Sea and the Mediterranean.