Turkey Selects ExxonMobil Amid Expanding Black Sea Gas Finds

Turkey and ExxonMobil Collaborate on Oil and Gas Exploration

Turkey’s national oil and gas company, Turkish Petroleum Corporation (TPAO), has entered into a memorandum of understanding with ESSO Exploration International Limited, a subsidiary of Exxon Mobil. This partnership, announced by Ankara on Thursday, focuses on identifying new oil and natural gas opportunities in both the Black Sea and the Mediterranean regions.

According to Energy and Natural Resources Minister Alparslan Bayraktar, the agreement is designed to enhance operational performance and speed up the discovery of new hydrocarbon resources. By leveraging TPAO’s expertise in deepwater exploration alongside Exxon Mobil’s global experience, the two companies aim to achieve greater results. The memorandum was officially signed in Istanbul by Cem Erdem, TPAO’s General Manager, and John Ardill, Vice President at Exxon Mobil.

Expanding Offshore Energy Initiatives

This collaboration supports Turkey’s growing ambitions in offshore energy, especially in the Black Sea. The Sakarya gas field has played a pivotal role in reducing Turkey’s reliance on imported energy. Since September 2023, Sakarya has been supplying gas to the national grid, with output reaching 2.3 billion cubic meters in 2024. Earlier this year, daily production hit 9.5 million cubic meters, and forecasts suggest it could surpass 3.3 billion cubic meters in 2025.

Recently, TPAO revealed a significant new gas find near Sakarya, with the Goktepe-3 well adding an estimated 75 billion cubic meters to reserves. This brings the total discovered reserves in the Black Sea to approximately 785 billion cubic meters—enough to supply Turkish households for over three years, according to the energy ministry. The latest discovery alone is valued at about $30 billion at current market rates.

Future Production Goals

Looking forward, Turkey intends to increase production capacity further with the launch of a new floating production platform, expected to be operational in the third quarter of 2026. This development could boost Sakarya’s daily output to over 18 million cubic meters. By 2028, Ankara’s goal is to raise total domestic gas production to 40 million cubic meters per day.

Strengthening Energy Partnerships

The agreement between TPAO and ExxonMobil is part of a broader trend of energy cooperation, which also includes a recent liquefied natural gas supply contract. Turkish authorities emphasize that such alliances are vital for increasing domestic output, diversifying energy sources, and establishing Turkey as a key energy hub in the region.