The national energy company from Türkiye, Turkish Petroleum – TPAO has gotten into a new strategic cooperation framework along with BP, the U.K.-based energy group, covering joint work in oil & natural gas projects throughout many regions, Alparslan Bayraktar, the Energy and Natural Resources Minister, confirmed on February 12, 2026.
It is worth noting that this agreement makes way for a cooperation framework so as to develop oil and gas fields, evaluate high-potential exploration areas, and raise the export capacity of oil and, at the same time, go ahead and strengthen natural gas transportation infrastructure not only at a regional level but also at an international level as well.
Bayraktar, in a written statement, confirmed that Iraq, specifically the Kirkuk fields, is placed as the top priority for joint work with BP, in addition to the potential cooperation in Libya, Kazakhstan, and Azerbaijan.
TPAO gets two Libya blocks with Repsol partnership
Bayraktar said, “We want to carry the existing cooperation between TPAO and BP into different fields and countries.” “I believe we will share concrete developments with the public within the year.”
Bayraktar referred to the target to raise oil & natural gas production to 1 million barrels by TPAO, further adding that the deal would indeed help to expand joint exploration and field development efforts internationally. He added that another agreement is most likely to get signed anytime soon, which would involve a separate partnership having a clearly defined country and location, thereby describing it to be more concrete and also specific.
Bayraktar went on to recall that TPAO went on to recently win the license rights for two blocks in Libya, which apparently happen to be one offshore and one onshore, in an international tender that was held after a gap of 17 years. He said the company went on to submit the bids for two blocks and, as a matter of fact, secured both of them.
As per that tender outcome, TPAO is going to explore for oil and gas together along with Repsol, the Spanish partner. The Turkish company is going to have a 40% stake in both offshore and onshore blocks. It is worth noting that MOL from Hungary is also a partner in the offshore block.
Back-to-back global oil stacked by Türkiye
Notably, the BP memorandum goes on to follow certain other recent international agreements that have been signed by TPAO.
Apparently, in January 2026, the company inked an MoU with ESSO Exploration International Limited, the ExxonMobil subsidiary, so as to cover novel exploration areas based in the Mediterranean and Black Sea, with certain other international fields having the potential to be identified together.
Recently, TPAO also inked a separate memorandum with Chevron, which has been aimed at developing joint oil and gas exploration along with production activities across Türkiye as well as throughout international project areas.
