Country Overview
  • Worlds 19th largest economy with $819bn GDP and 85m population
  • NATO and OECD Member
  • Strong growth in energy demand
  • Energy corridor between ME, Eurasia and Europe
Current Exploration and Production Activites in Turkey
  • 41 Companies Exploring
  • 23 Companies Producing
As of 2023
  • Less than 2% of Turkish land surface has 3D seismic
  • 7% of Turkish oil consumption is from local production, for gas this is <2%
  • 30% of Turkish production is by foreign companies
  • Very few wells have been drilled offshore

This creates a significant opportunity for further exploration and development of hydrocarbons in Turkey. ARAR believes that there is a shortage of players in the Turkish market.

History of Turkish E&P
24 Mar 1926

Petroleum Law No 792

05 Jun 1926

Iraq­ Turkey Royalty AgrePetroleum Law No 792ement

14 Oct 1927

Discovery Baba Gurgur­1 in Iraq

31 July 1928

Red Line Agreement

20 May 1933

Establishment Petrol Arama Isletmesi (PAI): Petroleum Exploration and Operating Administration, now MAPEG

13 Oct 1934

First Exploration Well drilled in Turkey (Basbirin-1)

22 Jun 1935

Establishment of MTA

01 Feb 1945

First Discovery in Turkey (Raman­8)

03 Nov 1948

End of the Red Line Agreement


End of Iraq ­Turkey Royalty Agreement


Petroleum Law No 6326


Establishment TPAO

The exploration and development of Turkey’s Petroleum Resources has had mixed success in its first 50 years (1954­ – 2004):

  • Of the 220 companies active in Petroleum E&P, only 30 were domestic companies;
  • Only 3% of companies were active for more than 10 years or are still active;
  • 63% of companies left the industry without drilling a single well;
  • The total Number of wells drilled in the period of 1954 – ­2004 was 3314*, of which 1354 were exploration wells
  • A high rate of commercial discovery at 9.5%with 129 wells commercially successful;
  • Almost 900 exploration wells were drilled by TPAO. Only 10 exploration wells were drilled by local private Turkish companies;
  • International companies drilled more than 400 exploration wells and have significantly contributed to Turkeys O&G exploration.

*1.600.000 wells drilled in USA within the period of 1859 ­- 1959