TPAO and ExxonMobil sign deal for offshore exploration

The Turkish Petroleum Corp. (TPAO) has formalised a strategic partnership with Esso Exploration International, a subsidiary of ExxonMobil, marking a significant escalation in Türkiye’s ambitions to become a regional energy powerhouse. The Memorandum of Understanding (MoU), signed in Istanbul on January 8, establishes a framework for joint exploration across the Black Sea and the Mediterranean, alongside potential ventures in international waters.

The agreement represents more than a commercial tie-up; it is a critical component of Ankara’s long-term “energy independence” doctrine. Energy and Natural Resources Minister Alparslan Bayraktar said the collaboration is designed to merge TPAO’s domestic operational foothold with ExxonMobil’s technical prowess in ultra-deepwater drilling.

According to reports from Daily Sabah, the partnership aims to elevate the state’s institutional capacity while cementing Türkiye’s role as a vital energy conduit for Europe.

The partnership marks a return to a shared history. ExxonMobil and TPAO first collaborated in the Black Sea in 2008, targeting the Samsun licence.

Writing on LinkedIn, Ciaran Nolan of Nolan Geoscience said that while early exploratory wells such as Kastamonu-1 and Surmene-1 identified gas-bearing Pliocene sands, they were deemed non-commercial at the time. This prompted a shift in ExxonMobil's focus toward the Romanian sector, where it achieved notable success with the Domino-1 discovery in 2012, eventually leading to the Neptun Deep project.

However, the geological landscape has been fundamentally redefined by TPAO’s 2020 discovery of the Sakarya field. Utilising 3D seismic data to identify complex Plio-Miocene structures, TPAO estimates the greater Sakarya area holds roughly 785bn cubic metres of gas.

This discovery has revitalised interest in the Western Black Sea, shifting the exploration focus towards more complex stratigraphic traps and previously overlooked deepwater extensions.

Türkiye’s upstream successes are increasingly aligned with its midstream infrastructure expansion. Earlier in 2026, the state pipeline operator, BOTAŞ, secured a significant LNG supply agreement with ExxonMobil, diversifying its import portfolio. Bayraktar said that gas from the Sakarya field is already being supplied to 4m households, a figure projected to double by the end of the year.

The strategic goal appears to be the creation of an intentional supply surplus. With an annual consumption of around 50-60bn cubic metres, Türkiye’s total import and production capacity is set to reach 80–85bn cubic metres. This headroom is essential for Ankara’s plan to act as a regional trading hub. BOTAŞ management said that the country’s geographical position and robust infrastructure have already established it as a reliable partner for European energy security.

While the Black Sea remains the immediate focus – specifically the underexplored eastern sector where biogenic gas systems remain highly active – the Mediterranean component of the MoU is equally significant. As exploration moves into deeper and more technically demanding environments, the integration of ExxonMobil’s international experience in data interpretation and risk management is expected to shorten development timelines.

The deal highlights a maturation of Türkiye’s energy sector. By leveraging the technical success of the Sakarya and Gabar fields, TPAO is no longer merely a domestic operator but a sophisticated partner capable of attracting the supermajors.

For C-suite observers, this alliance signals a more assertive Turkish presence in the Mediterranean and Black Sea basins, backed by the capital and technology required to turn geological potential into commercial reality.