Turkey's state-run oil company Turkish Petroleum Corporation (TPAO) has signed a memorandum of understanding with US energy major Chevron to assess potential cooperation in oil and natural gas exploration and production, Energy and Natural Resources Minister Alparslan Bayraktar said on Thursday, as reported by Daily Sabah.

Bayraktar said on social media platform X that the agreement, signed in Istanbul on 5 February 2026, may also include oil and natural gas exploration and production, adding that Ankara aimed to develop joint projects both in Turkey and internationally. With this memorandum of understanding, the aim is to develop joint projects both in Turkey and on an international scale, Bayraktar wrote.

"By supporting our work in Gabar and the Black Sea with our international initiatives, we will also contribute to our vision of transforming TPAO into a global company with a production capacity of 1 million barrels," he added.

TPAO General Manager Cem Erdem and Chevron's president of corporate business development Frank Mount signed the memorandum in the presence of Minister Bayraktar.

The agreement was previously announced and comes after a similar agreement with ExxonMobil. The minister recently said this year would be a record year for natural gas in the country, pledging to boost exploration domestically and abroad.

As part of its efforts to curb imports and aim for energy independence, Turkey has recently added to its fleet two new drilling ships, Yıldırım and Çağrı Bey, which will be involved in operations on the country's northern coast in the Black Sea and Somalia, according to Bayraktar.

“We will soon sign new agreements for different international partnerships and share the concrete projects we have implemented”, the minister reiterated on Thursday.

Access detailed coverage of TPAO's international energy partnerships in the full report.