Türkiye, Oman sign MoU on energy cooperation
Baku, July 15, AZERTAC
Türkiye and Oman signed a memorandum of understanding on Monday to deepen energy cooperation between the two countries, Türkiye's Minister of Energy and Natural Resources Alparslan Bayraktar said during a visit to Muscat, the capital of Oman, Anadolu Agency reported.
As part of the visit, Bayraktar met with Omani Minister of Energy and Minerals Salim Nasser Al Aufi to discuss ways to enhance bilateral energy potential.
The agreement, titled Memorandum of Understanding on Cooperation in the field of energy, aims to facilitate joint efforts in oil and natural gas exploration, transportation, and processing.
It also includes provisions for collaboration in electricity, renewable energy, energy efficiency, and hydrogen technologies.
Bayraktar said that the goal is to "transform our mutual energy interests into concrete projects that will generate shared benefits."
"We believe this agreement will further strengthen our ties and lead to meaningful outcomes across multiple sectors." he added.
The two sides expressed hope that the cooperation will evolve into long-term initiatives, supporting both countries' energy strategies and sustainable development goals.
Bayraktar also stated that, as part of the visit, the Turkish delegation met with Abdulsalam bin Mohammed Al Murshidi, chairman of the Oman Investment Authority.
"We discussed potential investment opportunities both bilaterally and in third countries, across a wide range of sectors from oil and natural gas to renewable energy and electricity infrastructure," Bayraktar concluded.
According to a statement from Türkiye's Ministry of Energy and Natural Sources, Türkiye took a significant step to expand its presence in the country's upstream oil and gas sector through its national oil company, Turkish Petroleum Corporation (TPAO).
TPAO signed a tripartite agreement with the Ministry of Energy and Minerals (MEM) of the Sultanate of Oman and OQ Exploration and Production New Ventures L.L.C. (OQEP), a leading Omani energy firm.
"Under the terms of the agreement, MEM granted TPAO and OQEP exclusive rights for a three-month period to assess and evaluate designated areas for potential exploration and development," the statement read.
In addition, TPAO and OQEP signed a separate cooperation agreement aimed at exploring new business opportunities in the energy sector.
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