Turkish Petroleum Overseas Company Limited
| Public | |
| Industry | Oil and gas industry |
| Founded | 1954 |
| Headquarters | Ankara, Turkey |
|
Key people
|
Besim Şişman (CEO) |
| Products |
Petroleum products petrochemicals chemicals |
| Revenue |
 US$ 19.5 billion (2012) |
| US$ 3 billion (2012) | |
| Total assets | US$ 12.5 billion (2012) |
| Total equity | US$ 6.4 billion (2012) |
| Owner | Turkish Government (Treasury) |
|
Number of employees
|
4,800 (2013) |
| Subsidiaries | TPPD |
| Website | www |
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 as Turkey's national company.
Being an important actor of the national economy, TPAO achieved many “firsts” of the Turkish oil industry in the past. 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.
The core activities of TPAO:
• Exploration, Drilling, Production and Well Completion
• Natural Gas Storage
• Participation to Oil and Natural Gas Pipeline Projects
• Fuel products distribution (by TPPD)
In accordance with 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 company extends its activities in unexplored basins of Turkey, especially Black Sea and Mediterranean offshores.
With seismic surveys held since 2003, it has attained substantial information about the hydrocarbon potential of Turkey offshore. The first economical natural gas discovery made the region limelight of many oil companies.
TPAO continues farm-out activities covering Mersin and İskenderun Bays licenses following Antalya Bay.
In 2013, the company purchased a 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.
In 2013, TPAO produced 12.3 million barrels of crude oil from its fields, which constituted 73% of the total crude oil production of Turkey. 72% of our total oil production is from Batman Region, 27% is from Adıyaman Region and 1% is from Thrace Region.
The average daily production for 2013 is 33,758 barrel/day.
488.1 thousand barrels of oil was produced in 2013 from 47 new oil wells that were put into production. It is 4% of the total production for 2013.
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Wikipedia