Turkish firm Petroleum signs deal with U.S. oil titans

2025-03-13 07:06:56

(MENAFN) Turkey's state-owned Turkish Petroleum Corporation inked a mutual venture deal with American oil titans Continental Resources along with TransAtlantic Petroleum on Wednesday, as reported by Turkish Energy Minister Alparslan Bayraktar.

The agreement covers collaboration for the establishment of Turkey's original oil as well as natural gas sources in the southeastern district of Diyarbakir.

"The project, which will be carried out with the most up-to-date environmental and technological practices, will also provide training for the local workforce and technical knowledge transfer," he posted on X.

"This cooperation will greatly contribute to our goal of bringing Türkiye's oil and gas resources to our economy.”

"I hope that this agreement, which opens a new era in oil exploration in Türkiye, will be beneficial for all parties," he also stated.

Continental Resources is one of the biggest oil manufacturers in the United states, while TransAtlantic Petroleum has been running in Turkey for 17 years.

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