National energy company Turkish Petroleum (TPAO) and international energy giant Shell have signed a partnership agreement to conduct oil and natural gas exploration activities in Bulgaria's exclusive economic zone (EEZ) in the Black Sea, marking the latest step in Türkiye's push to expand its upstream footprint abroad.
Under the agreement, TPAO will join exploration operations led by Shell at Block 1-26 Khan Tervel field, located in Bulgaria's offshore waters. The deal was signed at a ceremony in Istanbul by TPAO General Manager Cem Erdem and Shell Senior Vice President Eugene Okpere, in the presence of Energy and Natural Resources Minister Alparslan Bayraktar.
Speaking after the signing, Bayraktar said the partnership would grant Türkiye a five-year exploration license in Bulgaria's EEZ.
"As part of our strategy to grow TPAO abroad, which we have accelerated since the beginning of the year, we continue to expand our international partnerships," Bayraktar said. "With Shell, building on the cooperation framework we initiated in 2024, we have now formalized a partnership in a concrete block — the Khan Tervel field in Bulgaria’s exclusive economic zone."
The Khan Tervel block spans more than 3,800 square kilometers and is located close to Türkiye's flagship offshore discovery, the Sakarya Gas Field in the Black Sea. Bayraktar noted that the proximity to Sakarya could offer geological and operational advantages.
He said the partners would first conduct seismic surveys in the license area, followed by the potential drilling of an exploration well next year, depending on the results of the data evaluation.
Highlighting Türkiye's growing offshore exploration and production capabilities, Bayraktar said the country's experience in deepwater operations played a key role in forming the partnership.
"Such offshore areas require experienced foreign partners. Shell and TPAO were selected. Our capabilities at sea and the experience we have gained so far have made a significant contribution to being chosen as a partner by these countries and companies," he said.
The agreement marks TPAO's fourth international upstream deal in recent weeks. The company signed separate agreements with ExxonMobil on Jan. 8, Chevron on Feb. 5 and BP on Feb. 12 as part of its broader strategy to diversify its exploration portfolio and strengthen energy security through overseas assets.
By Ebru Sengul Cevrioglu
Anadolu Agency
energy@aa.com.tr