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TotalEnergies SE ( (FR:TTE) ) has shared an update.
TotalEnergies and Turkey’s state-owned oil company Türkiye Petrolleri Anonim Ortaklığı have signed a memorandum of understanding to explore joint upstream opportunities. The agreement targets technical collaboration and joint assessment of prospects in Türkiye’s Black Sea region, while also opening the door to cooperation on exploration projects in other international basins.
The cooperation aims to leverage both companies’ exploration expertise, potentially strengthening TotalEnergies’ position in frontier and emerging gas and oil plays. For TPAO, partnering with a global major could accelerate the development of the Black Sea’s resource potential and support Turkey’s broader energy security and diversification goals.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company that produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, as well as renewables and electricity. With more than 100,000 employees and operations in about 120 countries, the group focuses on providing reliable, affordable and more sustainable energy, embedding sustainability at the core of its strategy and operations.
Learn more about TTE stock on TipRanks’ Stock Analysis page.