Turkey in Talks With Chevron Over Hydrocarbon Exploration
State energy firm TPAO explores joint drilling as Ankara ramps up energy ambitions.
Turkey’s state-owned energy company is in talks with Chevron over potential joint hydrocarbon exploration, according to a Turkish official cited by Bloomberg.
Turkish Petroleum Corp (TPAO) is reportedly discussing cooperation with Chevron on seismic surveys and drilling activities, the source said, requesting anonymity due to the private nature of the talks.
Any potential agreement forms part of Ankara’s recent efforts to boost domestic energy production and comes at a time of broader improvement in US–Turkey relations. In January, Turkey reached a separate agreement with Exxon Mobil for joint exploration activities in the Black Sea and the Mediterranean.
Turkey’s Ministry of Energy and Natural Resources did not respond to a request for comment, while TPAO was also unavailable for comment.
“Chevron has a diversified global exploration and production portfolio and continues to evaluate potential opportunities,” a company spokesperson told Bloomberg, adding that “as a matter of longstanding policy, we do not comment on commercial matters.”
It remains unclear which specific projects a potential partnership might target. TPAO is already active in the Black Sea, Iraq, Russia, and Somalia, and has previously conducted drilling operations in the Eastern Mediterranean. In the same region, Chevron operates hydrocarbon fields in Israeli and Cypriot waters.
In recent years, Ankara has sought to reduce its near-total dependence on imported oil and natural gas by increasing domestic production and expanding TPAO’s activities abroad. The company has strengthened its fleet of specialized offshore exploration vessels and recently announced plans to raise up to $4 billion through the first-ever Islamic debt issuance in its history.