Cyprus Times

Turkey and ExxonMobil Sign MOU for Hydrocarbon Exploration

Published January 9, 2026, 09:14
Turkey and ExxonMobil Sign MOU for Hydrocarbon Exploration

Turkey and ExxonMobil have signed a memorandum of understanding (MOU) for joint hydrocarbon exploration in the Black Sea and the Mediterranean. The MOU, signed in Istanbul, also provides for the possibility of establishing joint ventures in other international regions. The aim is to combine TPAO's technical expertise in deepwater exploration and drilling with ExxonMobil's international know-how, in order to strengthen operational capabilities and pave the way for new discoveries. Turkey has intensified its offshore activities in recent years, with natural gas production from the Sakarya field reaching 9.5 million cubic meters per day.