MOL Group has signed a Memorandum of Understanding with Turkish Petroleum (TPAO) in Istanbul regarding a strategic partnership in hydrocarbon exploration and production, as reported by MOL. Following successful joint international projects, the two companies have agreed to elevate their collaboration to a new level towards a potential partnership in exploration in Turkey and further potential projects in other regions. According to the Memorandum of Understanding, MOL Group and Turkish Petroleum have expressed their intention to jointly invest their experience, technical and commercial knowledge, advanced techniques, and financial resources. Furthermore, the Memorandum of Understanding also envisions potential joint participation in exploration, field development, and production projects in the Caspian region, Turkey, North Africa, the Middle East, as well as in Central and Eastern Europe. The Memorandum of Understanding was signed in Istanbul by the President and CEO of MOL Group, Zsolt Hernadi, and the President and CEO of Turkish Petroleum, Ahmet Türkoğlu. „The partnership in oil and gas exploration will serve to further expand our international portfolio and contribute to the energy supply security and competitiveness of Central and Eastern Europe. In these times of geopolitical uncertainty and rapid changes, strategic partnerships are more valuable than ever,“ Hernadi stated.
