BP and TPAO seal oil & gas cooperation pact

February 13, 2026, by Melisa Cavcic

UK-headquartered energy giant BP has struck a deal with Türkiye‘s national oil and gas giant, Türkiye Petrolleri A.O. (TPAO), to pool resources in the oil and gas exploration and production arena.

Illustration; Source: Türkiye Petrolleri A.O. (TPAO)

Following agreements with Exxonmobil on January 8, 2026, and Chevron on February 5, TPAO has signed a memorandum of understanding (MoU) with BP for a strategic cooperation in the field of oil and natural gas.

Cem Erdem, TPAO’s General Manager, and Andrew McAuslan, BP’s Head of Global Oil and Gas Business Development, inked the MoU, accompanied by Alparslan Bayraktar, Türkiye’s Minister of Energy and Natural Resources.

This deal is described as a framework for the development of oil and natural gas fields, the evaluation of areas with exploration potential, and cooperation at international and regional levels on oil export capacity and natural gas transport infrastructure.

“Our most basic priority project is cooperation in Iraq. We are looking at cooperation in Iraq, especially Iraq fields,” said Minister Bayraktar, who points out that TPAO will become a company that produces approximately 500,000 barrels of oil and gas in 2028.

The firm took steps to cooperate with other industry players with the goal of increasing the production level to 1 million barrels. Bayraktar claims that TPAO and BP want to take their cooperation to different fields and countries.

Türkiye’s Minister of Energy and Natural Resources added: “Our most basic and priority project here is cooperation in Iraq. Again, one of our common topics is Libya.

“We are considering cooperation in Libya. We will also evaluate these collaborations in terms of different projects in Central Asia, Kazakhstan and Azerbaijan. I believe that we will share the concrete developments about them with our public this year.”

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While announcing that another agreement will be penned next week, Bayraktar noted: “The other is a different agreement; we will make a more concrete and clear partnership, a certain place and country. We plan to sign it next week.”

He also reminded that TPAO won the right to obtain a license in two blocks, one at sea and one on land, in the tender held in Libya.

Minister Bayraktar elaborated: “Libya went to such an international tender for the first time in about 17 years. We made an offer in two blocks, we were entitled to receive this license in both blocks. This time, we will search for natural gas and oil with our Spanish partner Repsol.

“Turkish Oil will be a 40 percent partner in these fields both on land and at sea. One of our partners in the field at sea is the Hungarian MOL company. We also have an important strategic cooperation with them. We are taking steps as a requirement of our ‘growth strategy outside’.”