Cyprus Times

Turkey and Chevron in Talks for Joint Oil and Gas Exploration

Published January 20, 2026, 17:11
Turkey and Chevron in Talks for Joint Oil and Gas Exploration

Turkey is in discussions with US energy giant Chevron for potential joint oil and gas exploration, according to a Bloomberg report. The state-owned Turkish Petroleum Corp (TPAO) is considering a partnership with Chevron on seismic surveys and drilling, as part of Ankara's efforts to boost its energy production. If successful, the agreement would mark another collaboration for Turkey in the energy sector, following a deal with Exxon Mobil in the Black Sea and Mediterranean in January. Chevron confirmed it continuously evaluates new opportunities in the exploration and production of hydrocarbons but declined to comment specifically on the talks with TPAO. TPAO is already active in areas such as the Black Sea, Iraq, Russia, and Somalia, and has previously conducted drilling in the Eastern Mediterranean. Chevron, on the other hand, already has a presence in the region, managing fields in Israeli and Cypriot waters. Turkey is seeking to reduce its reliance on energy imports by increasing domestic production and expanding TPAO's operations abroad. To this end, the company has strengthened its fleet of offshore exploration vessels and recently announced plans to raise up to $4 billion through its first-ever Islamic bond issuance. The potential deal with Chevron comes amid improving relations between the US and Turkey, facilitating energy cooperation. However, the scope of the collaboration remains unclear, as it is not yet known on which specific projects the potential partnership will focus.

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