General – Hydrocarbons
MOL Group signed a Memorandum of Understanding with Turkish Petroleum Corporation (TPAO) in Istanbul to cooperate as strategic partners in the exploration and production of hydrocarbons.
The companies agreed to elevate their cooperation to a new level after successful international joint projects to potential partnership in exploration in Türkiye and further potential projects in other regions.
Under the MoU, MOL Group and Turkish Petroleum intend to jointly provide their experience, technical and commercial knowledge, advanced techniques, and financial resources. Moreover, the MoU also covers potential joint participation in exploration, field development, and production projects in the Caspian region, Türkiye, North-Africa and the Middle East as well as in Central and Eastern Europe.
The memorandum of understanding was signed in Istanbul by MOL Group Chairman and CEO Zsolt Hernádi and Turkish Petroleum Chairman and CEO Ahmet Türkoğlu.
MOL Group and Turkish Petroleum have been cooperating in hydrocarbon exploration and production projects as joint venture partners in Azerbaijan’s Azeri-Chirag-Deepwater Gunashli (ACG) field and Russia’s Baitugan field.
