Kırklareli Oil License Extension Secures Long-Term Outlook to 2032

TPAO and Petrogas' oil operation license in Kırklareli has been extended to August 1, 2032, taking into account the field's reserves, annual output and investment program.

Strategic Role of the Kırklareli Asset

■License extension date: August 1, 2032

■Current reserve base and annual production levels were evaluated

■Investment and production program underpins a long-term operating plan

Market Implications and Investor Outlook

■Multi‑year license visibility offers predictable returns for investors

■Strengthens TPAO and Petrogas' reserve‑based financing capacity

■Positive spill‑over expected for local economy and employment

Rüzgar Ersoy: The extension of the Kırklareli license is a strategic step supporting Turkey’s domestic oil production, delivering liquidity through reserve‑based financing and long‑term contracts. Yet global oil price volatility and mounting environmental regulations may reshape the risk profile of such long‑term commitments, urging investors to monitor both operational efficiency and sustainability metrics closely.