General – Cooperation
Turkish Petroleum (TPAO) and BP have signed a Memorandum of Understanding (MoU) on strategic cooperation in oil and natural gas.
The agreement was signed by TPAO General Manager Cem Erdem and BP Head of Global Oil and Gas Business Development Andrew McAuslan, in the presence of Turkey’s Minister of Energy and Natural Resources Alparslan Bayraktar.
The MoU establishes a framework for cooperation covering the development of oil and natural gas fields, assessment of areas with exploration potential, collaboration on oil export capacity, and natural gas transport infrastructure at international and regional levels.
The agreement follows recent exploration cooperation deals signed by TPAO with ExxonMobil on 8 January 8 and Chevron on February 5.
According to Minister Bayraktar, priority under the new framework will be given to potential cooperation in Iraq, particularly in Iraqi oil and gas fields.
