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TPAO

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Türkiye Petrolleri Anonim Ortaklığı (TPAO)
Company typePublic
IndustryOil and gas industry
Founded1954 (1954)
Headquarters
Ankara
,
Turkey
Key people
Melih Han Bilgin (CEO)
ProductsPetroleum products
petrochemicals
chemicals
Revenue US$ 29.5 billion (2012)
US$ 9 billion (2012)
Total assetsUS$ 22.5 billion (2012)
Total equityUS$ 12.4 billion (2012)
OwnerTurkey Wealth Fund[citation needed][1]
Number of employees
4,800 (2013)
Websitewww.tpao.gov.tr

Türkiye Petrolleri Anonim Ortaklığı (TPAO) (Petroleum of Turkiye Corporation) was founded in 1954 by Law No. 6327 with the responsibility of being involved in hydrocarbon exploration, drilling, production, refinery and marketing activities of oil and gas in Turkey as the national company.[2]

Until 1983, as an integrated oil company, it was engaged in all the activities fields of oil industry from exploration to production, refinery, marketing and transportation. Today, TPAO is a national oil company involved in merely upstream (exploration, drilling, well completion and production) sector.[3]

Exploration

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TPAO building in Ankara

In 2013, the company purchased the seismographic research/survey vessel RV Barbaros Hayreddin Paşa worth US$130 million for gas and oil field exploration in Black Sea[4] and the Mediterranean Sea.[5]

Fleet

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Name Built by Type Generation Acquired Note[6]
Barbaros Hayreddin Paşa United Arab Emirates Polarcus Seismic research vessel - 2013 [7]
MTA Oruç Reis Turkey İstanbul Naval Shipyard Seismic research vessel 2017 [8]
Fatih South Korea Hyundai Heavy Industries Ultra deepwater drillship Sixth 2017 [9][10]
Yavuz South Korea Samsung Heavy Industries Ultra deepwater drillship Sixth 2018 [11]
Kanuni South Korea Samsung Heavy Industries Ultra deepwater drillship Sixth 2020 [11]
Abdülhamid Han South Korea Daewoo Shipbuilding & Marine Engineering Ultra deepwater drillship Seventh 2021 [11]
- - Floating gas operating platform ship - On order. Expected acquisition in 2024.[12]

Projects

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Azerbaijan projects:

Iraq projects:

  • Badra Oil Field Development project with 10% share[17]
  • Missan Oil Field Development project with 11.25% share[18]
  • Siba Gas Field Development project with 40% share[19]
  • Mansuriya Gas Field Development project with 37.5% share (operator)[20]

Russia project:

TPAO acquired 49% of shares in MOL's BaiTex LLC, which holds the hydrocarbon licenses for Baituganskoye field and Yerilkinsky block in the Volga-Ural region, Russia.[21]

Finance

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In 2019, TPAO made an operating loss of 239 thousand lira for each of its 3700 employees.[22]: 38 

References

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  1. ^ Coskun, Orhan (2017-02-06). "Turkey transfers billions in major company stakes to sovereign wealth fund". Reuters. Retrieved 2020-10-28.
  2. ^ "TPAO to drill 150 wells this year - Latest News". Hürriyet Daily News. 2022-05-13. Retrieved 2024-11-12.
  3. ^ "Türkiye Petrolleri A.O". www.tpao.gov.tr. Archived from the original on 14 August 2018. Retrieved 17 April 2018.
  4. ^ Ganta, Himaja (2020-08-24). "Turkey's state-owned TPAO makes gas discovery in Western Black Sea". Offshore Technology. Retrieved 2024-11-12.
  5. ^ "Barbaros Hayreddin Paşa Gemisi Hizmete Alındı". Yeni Şafak (in Turkish). 2013-02-23. Retrieved 2013-02-23.
  6. ^ Çetin, Ahmet (2021-04-22). "Türkiye'nin Sondaj Filosu". Mavi Vatan (in Turkish). Retrieved 2024-07-21.
  7. ^ "BARBAROS HAYREDDIN P, Research Vessel - Gemi detayları ve güncel harita konumu - IMO 9538103 - VesselFinder". www.vesselfinder.com. Retrieved 2024-07-21.
  8. ^ "MTA Genel Müdürlüğü". www.mta.gov.tr. Retrieved 2024-07-21.
  9. ^ "FATIH, Drilling Ship - Gemi detayları ve güncel harita konumu - IMO 9503770 - VesselFinder". www.vesselfinder.com. Retrieved 2024-07-21.
  10. ^ Yacht, Ada. "Fatih Sondaj Gemisi ve Görevleri". Ada Yacht (in Turkish). Retrieved 2024-07-21.
  11. ^ a b c "Türkiye Yüzyılı - FATİH, YAVUZ, KANUNİ VE ABDÜLHAMİD HAN Sondaj Gemileri". Türkiye Yüzyılı (in Turkish). Retrieved 2024-07-21.
  12. ^ "Cumhurbaşkanı Erdoğan: Yeni bir doğal gaz gemisi alıyoruz". www.aa.com.tr. Retrieved 2024-07-21.
  13. ^ "bp outlines Azeri-Chirag-Gunashli field block prospects (Exclusive)". Trend.Az. 2024-08-19. Retrieved 2024-11-12.
  14. ^ "Turkey's TPAO gets $1.0 bln Loan from Isbank, Vakifbank for Shah Deniz Stake". www.iene.eu. Retrieved 2024-11-12.
  15. ^ "Baku-Tbilisi-Ceyhan pipeline fact sheet". European Commission - European Commission. Retrieved 2024-11-12.
  16. ^ "South Caucasus Pipeline (SCP) - SGC". www.sgc.az. Retrieved 2024-11-12.
  17. ^ "Badra Oil Field, Wasit Province - Hydrocarbons Technology". www.hydrocarbons-technology.com. Retrieved 2024-11-12.
  18. ^ Writer, NS Energy Staff (2010-05-16). "Cnooc, TPAO Clinch Deal To Develop Iraq Missan Oil Fields". NS Energy. Retrieved 2024-11-12.
  19. ^ "Türkiye strengthens global oil, gas exploration with agreements in 4 countries - Türkiye Today". Retrieved 2024-11-12.
  20. ^ Robson, Doug (2024-05-22). "Iraq Wants to Reopen Mansuriya Gas Field". ROGTEC. Retrieved 2024-11-12.
  21. ^ "Türkiye Petrolleri A.O". www.tpao.gov.tr. Archived from the original on 5 November 2018. Retrieved 17 April 2018.
  22. ^ 2019 Annual Ownership Report for State Owned Enterprises (PDF). Ministry of Treasury and Finance (Turkey) (Report).
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