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Turkish national oil company From Wikipedia, the free encyclopedia
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.
 |
 | |
| Company type | Public |
|---|---|
| Industry | Oil and gas industry |
| Founded | 1954 |
| Headquarters | , |
Key people | Melih Han Bilgin (CEO) |
| Products | Petroleum products petrochemicals chemicals |
| Revenue |  US$ 29.5 billion (2012) |
| US$ 9 billion (2012) | |
| Total assets | US$ 22.5 billion (2012) |
| Total equity | US$ 12.4 billion (2012) |
| Owner | Turkey Wealth Fund |
Number of employees | 4,800 (2013) |
| Website | www |
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 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.[1]
The core activities of TPAO are:[citation needed]
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]
| Name | Built by | Type | Generation | Acquired | Note[3] |
|---|---|---|---|---|---|
| Barbaros Hayreddin Paşa |  Polarcus |
Seismic research vessel | - | 2013 | [4] |
| MTA Oruç Reis |  İstanbul Naval Shipyard |
Seismic research vessel | 2017 | [5] | |
| Fatih |  Hyundai Heavy Industries |
Ultra deepwater drillship | Sixth | 2017 | [6][7] |
| Yavuz | Samsung Heavy Industries |
Ultra deepwater drillship | Sixth | 2018 | [8] |
| Kanuni | Samsung Heavy Industries |
Ultra deepwater drillship | Sixth | 2020 | [9] |
| Abdülhamid Han | Daewoo Shipbuilding & Marine Engineering |
Ultra deepwater drillship | Seventh | 2021 | [10] |
| - | - | Floating gas operating platform ship | - | On order. Expected acquisition in 2024.[11] |
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.[12]
| This section needs additional citations for verification. (July 2021) |
Four Korean-built deepwater drillships are bought, named after four Ottoman sultans, and put into commission:
In 2019, TPAO made an operating loss of 239 thousand lira for each of its 3700 employees.[14]: 38
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