Türkiye, Oman sign MoU on energy cooperation
ISTANBUL
Türkiye and Oman have signed a memorandum of understanding to deepen energy cooperation between the two countries, Energy Minister Alparslan Bayraktar has said during a visit to Muscat.
As part of the visit, Bayraktar met with Omani Minister of Energy and Minerals Salim Nasser Al Aufi to discuss ways to enhance bilateral energy potential.
The agreement, titled Memorandum of Understanding on Cooperation in the field of energy, aims to facilitate joint efforts in oil and natural gas exploration, transportation and processing.
It also includes provisions for collaboration in electricity, renewable energy, energy efficiency and hydrogen technologies.
Bayraktar said that the goal is to "transform our mutual energy interests into concrete projects that will generate shared benefits."
Bayraktar also stated that, as part of the visit, the Turkish delegation met with Abdulsalam bin Mohammed Al Murshidi, chairman of the Oman Investment Authority.
"We discussed potential investment opportunities both bilaterally and in third countries, across a wide range of sectors from oil and natural gas to renewable energy and electricity infrastructure," Bayraktar said.
According to a statement from the Energy Ministry, Turkish Petroleum Corporation (TPAO) signed a tripartite agreement with the Ministry of Energy and Minerals (MEM) of the Sultanate of Oman and OQ Exploration and Production New Ventures L.L.C. (OQEP), a leading Omani energy firm.
"Under the terms of the agreement, MEM granted TPAO and OQEP exclusive rights for a three-month period to assess and evaluate designated areas for potential exploration and development," the statement read.
In addition, TPAO and OQEP signed a separate cooperation agreement aimed at exploring new business opportunities in the energy sector.
