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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
Number of employees
4,800 (2013)
Websitewww.tpao.gov.tr

Türkiye Petrolleri Anonim Ortaklığı (TPAO) (Turkish Petroleum 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.

Being an important actor of the national economy, TPAO achieved many “firsts” of the Turkish oil industry.[citation needed] The company, its history reaching back over a half century, has given rise to seventeen major companies, including Petkim, Tüpraş and POAŞ to Turkey.

Until 1983, as an integrated oil company, it was engaged in all the activity 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.[1]

Operations

The core activities of TPAO are:[citation needed]

Exploration

TPAO building in Ankara

In accordance with the company's vision and mission for meeting Turkey’s continuously increasing oil and natural gas demand through domestic and international sources, with the new exploration strategy, the company extends its activities in unexplored basins of Turkey, especially Black Sea and Mediterranean offshore areas.

TPAO continues farm-out activities covering Mersin and İskenderun Bays licenses following Antalya Bay.[citation needed]

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 and the Mediterranean Sea.[2]

Projects

Azerbaijan projects:[citation needed]

Iraq projects:[citation needed]

Russia project:

TPAO acquired 49% of shares in MOL's BaiTex LLC, which is the holder of the hydrocarbon licenses for Baituganskoye field and Yerilkinsky block in the Volga-Ural region, Russia.[3]

Milestones

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Four Korean-built deepwater drillships are bought, named after four Ottoman sultans, and put into commission:

Finance

In 2019, TPAO made an operating loss of 239 thousand lira for each of its 3700 employees.[5]: 38 

References

  1. ^ "Türkiye Petrolleri A.O". www.tpao.gov.tr. Archived from the original on 14 August 2018. Retrieved 17 April 2018.
  2. ^ "Barbaros Hayreddin Paşa Gemisi Hizmete Alındı". Yeni Şafak (in Turkish). 2013-02-23. Retrieved 2013-02-23.
  3. ^ "Türkiye Petrolleri A.O". www.tpao.gov.tr. Archived from the original on 5 November 2018. Retrieved 17 April 2018.
  4. ^ "Türkiye Petrolleri A.O". www.tpao.gov.tr. Archived from the original on 18 April 2018. Retrieved 17 April 2018.
  5. ^ 2019 Annual Ownership Report for State Owned Enterprises (PDF). Ministry of Treasury and Finance (Turkey) (Report).

External links

Petroleum industry
Authority control databases
Categories