Turkey and Oman finalize Memorandum of Understanding on energy collaboration
The nations of Turkey and Oman have strengthened their energy partnership through a new Memorandum of Understanding (MoU) on Cooperation in the field of energy. Signed during a recent visit by Turkish Energy Minister Alparslan Bayraktar, the agreement outlines a broad framework for bilateral collaboration across various energy sectors.
The scope of the cooperation encompasses the entire energy value chain, including oil and natural gas exploration, production, transportation, refining, and processing. It also extends to electricity generation, renewable energy sources such as solar and wind, energy efficiency, hydrogen technologies, and carbon capture technologies [1][2][3][4].
The MoU enables joint projects and the exchange of technical know-how between the two countries. This includes collaboration in implementing renewable energy, advancing hydrogen technology, and enhancing energy efficiency [1][2][4]. In addition, the agreement aims to deepen cooperation beyond traditional hydrocarbons, helping both nations diversify their energy partnerships, support their green transition goals, enhance energy security, and align with sustainable development targets [1][4].
Alongside the MoU, a tripartite agreement was reached between Turkey’s state energy company, Turkish Petroleum Corporation (TPAO), Oman’s Ministry of Energy and Minerals, and OQ Exploration and Production (OQEP). This agreement grants TPAO and OQEP exclusive rights for a three-month period to assess and evaluate designated areas for potential exploration and development [2][3].
During his visit, Minister Bayraktar also met with Omani Minister of Energy and Minerals Salim Nasser Al Aufi. Additionally, he discussed potential bilateral and third-country investments with Oman Investment Authority, focusing on sectors from hydrocarbons to renewables and electricity infrastructure [3].
Interestingly, while the new agreement focuses on oil and natural gas exploration, it does not include provisions for collaboration in hydrogen technologies as the previous Memorandum of Understanding did [1]. Furthermore, TPAO and OQEP also signed a separate cooperation agreement aimed at exploring new business opportunities in the energy sector [4].
The new agreement, while not specified by name, is likely related to the previous Memorandum of Understanding on Cooperation in the field of energy. The agreement was titled Memorandum of Understanding on Cooperation in the field of energy, emphasising a commitment to transform mutual energy interests into concrete projects, capitalising on complementary strengths and market opportunities in oil, gas, renewables, and emerging energy technologies for shared economic and strategic gains [1][3][4].
The agreement significantly expands the energy cooperation between Turkey and Oman, covering various sectors like oil and natural gas exploration, production, transportation, refining, and processing, as well as electricity generation, renewable energy sources such as solar and wind, energy efficiency, hydrogen technologies, and carbon capture technologies.
Joint projects and knowledge exchange between the two countries include implementing renewable energy, advancing hydrogen technology, and enhancing energy efficiency, with the aim of diversifying energy partnerships, supporting green transition goals, enhancing energy security, and aligning with sustainable development targets.
