Established in 1990, Petoil Petroleum and Petroleum Products International Exploration and Operation Corp is an independent oil exploration and production company. Operating directly or through its dedicated subsidiaries, the company has executed extensive upstream campaigns across its exploration and production blocks in Northern Iraq, and currently produces commercial crude oil from the Chia Surkh block.
Petoil holds a distinguished pioneering legacy, having broken fresh ground by entering regions and countries across the Middle East, Asia, and North America where no Turkish private oil enterprise had ever ventured before. Notably, Petoil was the very first private company to enter Azerbaijan in 1992 and Northern Iraq in 2002. Furthermore, the company has successfully driven upstream campaigns across Kazakhstan, Yemen, and the USA.
Petoil is committed to exploring, developing, and producing the energy the world needs in an environmentally conscious, safe, and socially responsible manner. The company remains profoundly aware of its corporate social responsibilities. Today, energy is a fundamental asset as vital and indispensable to human life as clean air, clean water, and food security. Deeply conscious of this global demand, Petoil delivers essential energy to the world while remaining unyieldingly faithful to its core tenets: rock-solid business ethics, deep respect for employee rights, commercial stability, dedication to duty, and absolute transparent communication.
Petoil is a highly dynamic enterprise characterized by a high growth potential. Backed by a deeply experienced technical and managerial staff possessing profound expertise in asset acquisition, seismic interpretation, exploration drilling, and field development, Petoil stands out as a highly reliable international joint-venture partner. Working alongside top-tier global partners in various countries, Petoil operates across multiple fields under its own name, or directly through its integrated subsidiaries.
Our Strategy
Petoil maintains a powerful competitive presence in every basin it enters, leveraging deep regional insights, rock-solid institutional relationships with national and regional governments, and strategic alliances with key local service providers. Operationally and technically, Petoil maximizes its exploration and appraisal success by deploying the vast technical expertise and intellectual capital accumulated over decades of managing substantial production and operating assets.
Our comprehensive corporate strategy is anchored on the following core pillars:
A Disciplined Regional Focus: We maintain a dedicated geographic focus to develop an unrivaled, deep-rooted understanding of the region’s petroleum geology. In tandem, we continually expand and strengthen an extensive network of professional relationships and communication channels, which are vital to sustaining the company’s influence, long-term presence, and operational success in the region.
Cost-Effective Operations: As a highly efficient operator, we place the highest standard of emphasis on operational excellence and resource optimization. This allows us to strictly maintain fiscal discipline, rigorous cost controls, and maximum productivity across all our exploration and production campaigns.
Geopolitical & Economic Agility in MENA: Driven by a steadfast commitment to expanding our footprint across the highly dynamic Middle East and North Africa (MENA) region, we meticulously monitor and pursue new, high-potential opportunities. This proactive strategy is a clear reflection of our determination to capture and capitalize on international growth prospects wherever they arise.
OUR OPERATIONAL REGIONS
The Kurdistan Region of Iraq possesses vast, untapped hydrocarbon reserves and promises robust access to both domestic and international markets through existing and planned export pipelines. The Kurdistan Regional Government (KRG) offers a highly favorable fiscal framework and attractive commercial terms. In recent years, the region has witnessed a remarkable surge in upstream exploration and production activities, resulting in major oil and gas discoveries. Petoil identified the Kurdistan Region of Iraq as a prime area of strategic interest even prior to the liberation of Iraq. Commencing its operations in the region in 2003, the company has since been actively involved in four oil exploration and production license blocks. Furthermore, Petoil has successfully served as the operator for two of these blocks. The implementation of accelerated work programs in Northern Iraq represents a highly promising development for Petoil and other active operators, reaffirming that the region remains the premier location for our future international success.
