Turkey's national energy company is currently in negotiations with global energy giant Chevron to establish a partnership in oil and gas exploration. This move is part of a series of initiatives by Ankara to enhance energy self-sufficiency and reduce external dependence, further aiding Turkey in optimizing its energy landscape.

According to the cooperation plan, the two parties intend to collaborate in two core areas: seismic research and drilling operations. These talks coincide with a critical period of overall warming relations between Turkey and the United States. Earlier this year, in January, Turkey also reached a joint exploration agreement with ExxonMobil for the Black Sea and the Mediterranean, signaling a continued acceleration in international energy cooperation. From a business perspective, Turkey's national energy company has expanded its operations in the Black Sea, Iraq, Russia, and Somalia, and has previously conducted drilling activities in the Eastern Mediterranean. Chevron, on the other hand, has mature gas field projects in the waters of Israel and Cyprus, indicating strong regional complementarity between the two entities.

In recent years, Turkey has consistently worked to change its near-total reliance on imported oil and gas. Through a dual strategy of increasing domestic production and expanding overseas operations, it has steadily advanced its energy independence strategy. To support this strategy, Turkey's national energy company has expanded its specialized offshore exploration fleet. Recently, it announced plans to raise up to $4 billion through its first issuance of Islamic bonds, providing sufficient financial support for oil and gas exploration and other energy sector initiatives.

From:ChemNet