Ankara, March 14, 2025 – The Europe Today: Türkiye’s state-owned Turkish Petroleum Corporation (TPAO) has signed a joint venture agreement with US oil giants Continental Resources and TransAtlantic Petroleum to advance oil and gas exploration and extraction efforts, Turkish Energy Minister announced.
According to Turkish Energy Minister Alparslan Bayraktar, the agreement marks a significant step toward enhancing Türkiye’s energy resources. He highlighted the collaboration as a vital effort to bolster the country’s energy independence and economic growth.
The project will focus on exploring and developing Türkiye’s unconventional oil and natural gas reservoirs, which require advanced and complex extraction techniques. Minister Fatih Dönmez emphasized the importance of using Türkiye’s natural resources efficiently and integrating them into the national economy.
Additionally, the joint venture is expected to play a crucial role in advancing technological expertise in oil and gas extraction, while also fostering collaboration between Turkish and international energy giants. The initiative is part of Türkiye’s broader strategy to increase domestic energy production and reduce dependency on foreign energy sources.
Minister Dönmez expressed optimism regarding the agreement’s impact, stating: “We believe this project will be beneficial for all parties and will significantly contribute to Türkiye’s energy security and economic growth.”
This agreement marks a new chapter in Türkiye’s energy sector, embracing innovative “unconventional” oil and gas extraction methods in collaboration with leading US energy companies.
