Türkiye Petrolleri
| Türkiye Petrolleri Anonim Ortaklığı | |
|---|---|
| legal form | |
| founding | 1954 |
| Seat |
Ankara Turkey
|
| management | Mehmet Uysal |
| Number of employees | 4,000 (2006) |
| sales | US $ 3.5 billion (2006) |
| Website | www.tpao.gov.tr |
Türkiye Petrolleri Anonim Ortaklığı (TPAO) is a Turkish oil company headquartered in Ankara .
The company was created in 1954 on the basis of Law No. 6327 to represent the national interest in the areas of exploration , drilling , production of petroleum and its derivatives such as gasoline . The latter was discontinued until 1983.
Activities in the oil sector
As a major Turkish company, TPAO employed around 4,000 people in 2006, generating around US $ 3.5 billion. In 2005 the company had reserves of 558 million barrels of oil equivalent , with an expected increase to 1.5 billion barrels by 2010. In 2005 production was 70,000 barrels of oil equivalent per day.
Subsidiaries (as of 2010)
The Turkish Petroleum International Company Ltd. (TPIC) was founded in Jersey in 1988 and is primarily active in Iraq and Colombia (since 2007). Since February 2008 TPIC has been working with the Colombian company Ecopetrol in the search for oil in the Catatumbo Basin . In addition, they operate to a lesser extent in Kazakhstan , Syria , Georgia , Turkmenistan , Egypt , Algeria and Russia .
The Turkish Petroleum Overseas Company Ltd. (TPOC) was founded in 1996 in Jersey and holds shares in two projects on the Azerbaijani side of the Caspian Sea , in Libya in the Ghadames Basin , Sirte Basin and Mourzuk Basin and in the Black Sea .
The Turkish Petroleum BTC Ltd. (TPBTC Ltd.) was founded on February 20, 2002 in the Cayman Islands and holds 6.53 percent of the Baku-Tbilisi-Ceyhan Pipeline (BTC).
The Turkish Petroleum SCP Ltd. (TPSCP Ltd.) was founded shortly thereafter, on May 24, 2002, in the Cayman Islands and holds 9 percent of the South Caucasus pipeline .
The KazakTurkMunai Ltd. Joint Company (KTM) has been active in Kazakhstan since 1993 .