Türkiye's state-owned oil and gas giant is widening its international footprint from onshore production to offshore exploration, following its entry into a major oil project in Iraq's Kirkuk region with a new stake in an offshore Black Sea block in Bulgaria.
The latest moves advance Ankara's strategy of expanding overseas operations of Turkish Petroleum Corporation (TPAO) through partnerships with international energy companies as it seeks to strengthen energy security and build a larger global production portfolio.
Energy and Natural Resources Minister Alparslan Bayraktar has repeatedly said this year that Türkiye aims to transform TPAO into a more prominent energy producer.
Under the strategy, the company is targeting production of around 500,000 barrels of oil equivalent per day by 2028, with a longer-term goal of increasing output to 1 million barrels per day.
Bulgaria venture expands offshore exploration
