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Türkiye’s national energy company, Turkish Petroleum (TPAO), signed a memorandum of understanding with ESSO Exploration, a subsidiary of U.S. oil major ExxonMobil, to collaborate on oil and natural gas exploration in the Black Sea and Mediterranean regions.
The deal signed in Istanbul by TPAO’s Cem Erdem and ExxonMobil Vice President John Ardill also paves the way for potential joint ventures in other international areas.
Announcing the development, Türkiye's Energy and Natural Resources Minister Alparslan Bayraktar said the country aims to combine its technical expertise in deepwater exploration and drilling with ExxonMobil’s global experience to boost operational capabilities and pave the way for new discoveries.
"In line with our goal of a fully energy-independent Türkiye, we are strengthening our capabilities through international collaborations and moving forward to becoming the energy hub of our region," the minister said.
Türkiye has been expanding offshore energy operations in both the Black Sea and Mediterranean. In the Black Sea, production from the Sakarya Gas Field, discovered in 2020 and estimated to hold 710 billion cubic meters of recoverable reserves, continues to grow, currently yielding about 9.5 million cubic meters of gas per day, with plans to ramp up to 40 million by 2028. In the Mediterranean, seismic surveys and exploration efforts are ongoing in multiple zones.
Headquartered in Texas, ExxonMobil is one of the largest energy companies in the United States. In 2024, the company reported $349.6 billion in revenue and continues to operate across the entire oil and gas value chain, including exploration, production, refining, and marketing.
In 2025, Türkiye’s national oil output rose by 26% year-on-year to 47.9 million barrels, while natural gas production increased by 39% to 3.2 billion cubic meters.
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