CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please refer to our Risk Disclosure Statement
Open platformOpen platform

TPAO, Baker Hughes sign Turkish geothermal cooperation deal

By Reuters News

ISTANBUL, Nov 11 (Reuters) - Turkish state oil company TPAO has signed a cooperation agreement with US energy services firm Baker Hughes BKR.O to develop Turkey's geothermal energy potential, Turkish Energy Minister Alparslan Bayraktar said on Wednesday.

  • The deal was signed on the sidelines of the COP31 climate summit in the Turkish city of Antalya after Bayraktar met Baker Hughes CEO Lorenzo Simonelli, the minister said on X, without giving any financial details

  • The potential across Turkey will be assessed using data held by TPAO and the country's General Directorate of Mineral Research and Exploration (MTA), he said

  • They will then explore opportunities for commercial-scale development at suitable well locations, he added

  • Bayraktar said he hoped the step would make a strong contribution to Turkey's goals of diversifying its energy resources and further strengthening its energy supply security


Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk