TPAO
Turkiye Petrolleri A.O.
IN THE CASPIAN REGION
With the break up of the former Soviet Union in early 1990's, along with the world oil companies, TPAO has adjusted to the changing world of economic situation and turned to the Central Asia Turkish Republics, which are well known for their substantial hydrocarbon potentials.
Chairman of the Board and President of TPAO
Kenan Veziroglu
Chairman of the
Board and President of TPAO since March 2002.
TPAO, as an investor company in upstream and midstream projects, has a close watch on these developments with the responsibility and duty of reinforcing the historical and cultural ties between Turkey and Caspian Region countries.
Born in 1952.
Completed his university education in 1975
Attended as Deputy Undersecretary to Ministry of Energy in June 2001.
TPAO has commenced its activities in 1991 in the Caspian Region and amongst the countries in the Caspian Sea basin, Azerbaijan has attracted international interest in its potentially rich oil and natural gas reserves. Azerbaijan's hope for future economic growth rests with successful development of its vast oil and gas resources in the Caspian Region.
Here, emerges the role of TPAO, that TPAO is proud of the successful steps taken in all of its oil and gas projects in the Azeri sector up to date since 1993.
By its share of petroleum reserves and size of investment in five projects, TPAO is one of the major oil companies in Azerbaijan's oil and gas sector.
TPAO has become a shareholder in six capacious projects in Azerbaijan. These are Azeri-Chirag-Guneshli Project (6.75%),BTC (6.53%), Shah Deniz Project (9%), SCP (9%), Kur Dashi Project (5%) and Alov Project (10%).
Azeri-Chirag-Guneshli Project is a development project which will feed Baku-Tbilisi-Ceyhan Pipeline. TPAO sincerely hopes that the means of transporting these huge reserves to the world markets should be economical, reliable and secure despite all the political concerns and manipulations. This pipeline will also be the backbone of the immortal friendship among Turkey, Azerbaijan, Georgia and Kazakhstan.
On the other hand, a significant natural gas discovery was realized in the second big project of the Caspian-Azerbaijan sector, that is the Shah Deniz Project. Giant Shah Deniz natural gas reserve is expected to meet a considerable part of Turkey's total natural gas demand. The natural gas export pipeline, the South Caucasus Pipeline (SCP), will be the co-router of BTC and will complete the east-west energy corridor. Both upstream and midstream gas projects plans to sanction by end of February 2003 and the first gas is targeted to reach Turkish Georgian border by the end of third quarter of 2006.
The other two projects that TPAO is involved in Azerbaijani sector are Kur Dashi and Alov projects for which the studies are underway for exploration.
Within the scope of regional master strategy of Turkey, Caspian Region is a whole and TPAO parallel to this complete and integrated regional approach follows non-discriminative investment strategy to the whole business geography. In this context, TPAO has a diversified investment portfolio from upstream, development and production, to midstream, marketing and transportation. TPAO's portfolio in Azerbaijan however, constitutes the major part of the whole. This is due to swift adaptation of Azerbaijan to international business environments.
TPAO's international mission contemplates an activity geography from North Africa to Middle East extending to Caspian Region completing the triangle. Turkey is located at the heart of this critical region where 1/3 of the global oil and gas production is taking place. In addition, Turkey is juxtaposed to Europe, which is and will be the major market for these resources as well. This situational fact more or less draws the big picture for TPAO. The bridging position along this energy geography crystallizes the role. The global oil and gas market is receiving supply primarily from the Middle Eastern resources. However, diversification in resources is vital for sustainability and regional stability. Caspian Region, after the breakup of Soviet Union has been the focus of global interest just because of the same reasoning. In fact, TPAO carries a specific mission in the Caspian Region, being the state oil company of Turkey within same concept.
TPAO keeps a balance in the investment portfolio and so while quite a large portion of her investment is flowing to development and production projects, exploration activities are also present as they are vital for future sustainability. Also involvement in both oil and gas pipeline projects completes the unity of TPAO's integrated approach and risk diversification.
Performing all its activities since 1954 with success, TPAO holds an important position among leading private and state owned companies. Looking further ahead, TPAO has set target to be an "Energy Company" in the 21st century. With this investment abroad, TPAO roots for eminent position among world-giant petroleum companies for the next five years. TPAO's national mission is to meet our country's need of energy by means of supplying oil and natural gas economically, safely and environmentally friendly and to develop domestic hydrocarbon potential. In the face of limited domestic hydrocarbon resources and Turkey's growing energy needs, TPAO adopted a policy of investment diversification to hydrocarbon rich countries in the Caspian Region, Middle East, and North Africa. By forming joint ventures and through consortiums, TPAO plans to add reserves to its portfolio and gain access to critical technologies which in return will be used towards exploration and exploitation of domestic reserves. As TPAO, another target of ours is to be able to stand at the two edges of every pipeline crossing across our country, which will be an "energy corridor" in the 21st century. In the future, TPAO will boost its past performance with an accelerated pace as it considers and rely on its human resources as its greatest asset.
SUBSIDIARY, BRANCHES AND OFFICES:
- Turkish Petroleum Overseas
- Company (TPOC)
- Turkish Petroleum International
- Company (TPIC)
- Kazakturkmunay Ltd. Joint
- Company, Astana- Kazakhstan
- Turkish Petroleum BTC Ltd
- Turkish Petroleum SCP Ltd
- TPAO Turkmenistan Branch
- Office, Ashkabad- Turkmenistan
- TPOC Libya Branch Office,
- Tripoli- Libya
- TPAO/TPOC Azerbaijan Branch
- Office