TPAO's exploration licenses in the Black Sea have been extended

It has been decided to extend the license period of 21 oil exploration fields of the Turkish Petroleum Corporation (TPAO) located in the Exclusive Economic Zone in the Black Sea. The decisions of the General Directorate of Mining and Petroleum Affairs of the Ministry of Energy and Natural Resources regarding oil rights were published in today's Official Gazette. Accordingly, the period of exploration licenses covering 21 fields within the Exclusive Economic Zone/Continental Shelf within the maritime jurisdiction areas determined by bilateral delimitation agreements of TPAO in the Black Sea has been extended from October 23, 2022 to October 23, 2025. The extension decisions cover 21 fields with surface areas ranging from 19,219 hectares to 914,261 hectares.