By: AGBI

State-backed ​Turkish Petroleum Corporation (TPAO) and TotalEnergies have agreed to explore jointly for hydrocarbons in ⁠Turkey’s Black ​Sea region.

A memorandum of understanding signed by the two firms gives a framework for technical collaboration, including a joint assessment of exploration opportunities in the Black Sea and internationally, the French oil major said in a statement. 

No financial or exploration details were provided.

Ankara in May last year announced a new natural gas reserve of 75 billion cubic metres (bcm), which would support residential demand for nearly 3.5 years, in the Black Sea.

In September, TPAO unit Turkish Petroleum OTC awarded a $1.5 billion contract to Italy’s Saipem to expand the Sakarya gas field. 

Sakarya is Turkey’s largest offshore gas field, almost 170km off the coast of Filyos in the Black Sea province of Zonguldak. It has a production area of 2,200 square kilometres and is estimated to contain 710 bcm of gas. The field will meet almost 30 percent of the nation’s annual gas needs once production reaches capacity.