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Agreement on the Transfer of Assets Between TPAO and TPIC Was Concluded

Within the scope of the national energy policy of Ministry of Energy and Natural Resources and the Decision of the Council of Ministers dated 12/6/2017, the transfer process of assets between TPAO (Turkish Petroleum Corporation) and TPIC (Turkish Petroleum International Company of BOTAŞ) was completed with the agreement signed at TPAO’s General Directorate on November 30, 2017, thanks to the dedicated efforts of both companies.

 

 

Under the coordination of the Ministry of Energy and Natural Resources, Ahmet Türkoğlu (TPIC General Manager and Chairman of the Board of Directors) and Melih Han Bilgin (TPAO General Manager and Chairman of the Board of Directors) signed the related agreement. According to the agreement, it has been decided that TPIC's domestic and international exploration licenses and production leases will be transferred to TPAO and TPAO’s field services personnel will remain working for TPAO.

 

 Deputy General Manager Süleyman Çalık (TPAO), General Manager Melih Han Bilgin (TPAO), General Manager Ahmet Türkoğlu (TPIC), Deputy General Manager İlhan Çelik (TPIC)

 

TPAO, which has been contributing to the domestic and international initiative and development of Turkey's oil and gas sector for years, will focus on its main areas of activity, namely exploration and production via this consensus. TPIC, which has conducted or is carrying out activities such as exploration, production, oil field services, oil & petroleum products trade and distribution in many countries such as Iraq, Kazakhstan, Turkmenistan, Azerbaijan, Syria, Colombia, TRNC and Bangladesh, will focus on oilfield services (drilling, well completion, workover), petroleum & petroleum products trade and geophysical operations.