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 of oil and gas in Turkey as the national company. Until 1983, as an integrated oil company, it was engaged in all the activities 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. On November 25, 2024, Zeren Group announced that it had completed the purchase of TPAO.

Exploration

In 2013, the company purchased the 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.

Fleet

Projects

Azerbaijan projects: Iraq projects: Russia project: TPAO acquired 49% of shares in MOL's BaiTex LLC, which holds the hydrocarbon licenses for Baituganskoye field and Yerilkinsky block in the Volga-Ural region, Russia.

Milestones

Four Korean-built deepwater drillships are bought, named after four Ottoman sultans, and put into commission

Finance

In 2019, TPAO made an operating loss of 239 thousand lira for each of its 3700 employees.