TPAO

TPAO or Turkish Petroleum Corporation has been established in order to perform hydrocarbon exploration, drilling, production, refinery and marketing activities on behalf of the Turkish Republic with the law 6327 in 1954.

Türkiye Petrolleri Anonim Ortaklığı (TPAO)

Company type	Public
Industry	Oil and gas industry
Founded	1954 (1954)
Headquarters	Ankara , Turkey
Key people	Ahmet TÜRKOĞLU (CEO)
Products	Petroleum products petrochemicals chemicals
Revenue	US$ 29.5 billion (2012)
Net income	US$ 9 billion (2012)
Total assets	US$ 22.5 billion (2012)
Total equity	US$ 12.4 billion (2012)
Owner	Turkey Wealth Fund[citation needed][1]
Number of employees	4,800 (2013)
Website	www.tpao.gov.tr

Many milestones in Turkish Petroleum Industry has been brought to real by TPAO. Foundation of industry giants like PETKİM, TÜPRAŞ, PETROL OFİSİ are amongst these milestones.

TPAO continued exploration, production, refining, marketing and transportation activities until 1983 as an integrated oil company. TPAO has been acting as a state owned exploration and production oil company since the legal regulations made in 1983 and some other more recent changes.

TPAO’s primary goal is to reduce Turkey’s oil and gas import.^[2]

Exploration

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^[3] and the Mediterranean Sea.^[4]

Fleet

Name	Built by	Type	Generation	Acquired	Note[5]
Barbaros Hayreddin Paşa	Polarcus	Seismic research vessel	-	2013	[6]
MTA Oruç Reis	İstanbul Naval Shipyard	Seismic research vessel		2017	[7]
Fatih	Hyundai Heavy Industries	Ultra deepwater drillship	Sixth	2017	[8]
Yavuz	Samsung Heavy Industries	Ultra deepwater drillship	Sixth	2018	[9]
Kanuni	Samsung Heavy Industries	Ultra deepwater drillship	Sixth	2020	[9]
Abdülhamid Han	Daewoo Shipbuilding & Marine Engineering	Ultra deepwater drillship	Seventh	2021	[9]
-	-	Floating gas operating platform ship	-		On order. Expected acquisition in 2024.[10]

Projects

Azerbaijan projects:

• Azeri–Chirag–Guneshli project with 5.73% share^[11]
• Shah Deniz gas field project with 19% share^[12]
• Baku–Tbilisi–Ceyhan pipeline project with 6.53% share^[13]
• South Caucasus Pipeline project with 9% share^[14]
• Alov Exploration project with 10% share^{[citation needed]}

Iraq projects:

• Badra Oil Field Development project with 10% share^[15]
• Missan Oil Field Development project with 11.25% share^[16]
• Siba Gas Field Development project with 40% share^[17]
• Mansuriya Gas Field Development project with 37.5% share (operator)^[18]

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.^[19]

Finance

In 2019, TPAO made an operating loss of 239 thousand lira for each of its 3,700 employees.^[20]: 38