Turkey expands international energy strategy across three continents

Turkey is expanding its international energy footprint across three continents to achieve full energy independence. Energy and Natural Resources Minister Alparslan Bayraktar stated that the strategy aims to transform the Turkish Petroleum Corporation (TPAO) into an international energy company with a daily production capacity of 1 million barrels of oil equivalent.

Key international activities include a partnership in Iraq, where TPAO acquired a 15% stake in BP Energy Company of Kirkuk Limited to operate alongside BP and ConocoPhillips in several fields. In Somalia, following 234 days of seismic research by the Oruç Reis vessel, a decision has been made to proceed with drilling.

Other regions of interest include Libya, Oman, Azerbaijan, and Hungary. Currently, TPAO's combined domestic and international production stands at approximately 330,000 barrels of oil equivalent per day, with expectations to reach 600,000 barrels per day by 2028 as production increases at the Sakarya Gas Field.