Türkiye 's national oil company Turkish Petroleum (TPAO) and British energy company BP have signed a memorandum of understanding to deepen cooperation on oil and natural gas, including potential joint ventures in Iraq, announced the country's energy and natural resources minister (Anadolu Agency, 12/02/2026).
"Our top priority is collaboration in Iraq, particularly in the Kirkuk fields," the minister stated. The TPAO-bp agreement creates a framework for joint development of oil and gas fields, exploration assessments, and expansion of oil export capacity and gas transportation infrastructure, per the ministry.
The minister noted TPAO aims for 500 kb/d by 2028, with the agreement forming part of broader efforts to reach 1 mb/d. This follows similar MoUs with Chevron and ExxonMobil's ESSO Exploration International for Black Sea and Mediterranean exploration.
Türkiye has pledged to ramp up oil and gas exploration at home and abroad as part of its vision for energy independence. In 2024, domestic crude production stood at 130 kb/d, representing 16% of the country’s needs. However, output has grown at an average of 8.4%/year since 2011, accelerating to 21% annually over the last two years (Enerdata Global Energy Research).