Baker Hughes, Turkish National Oil Company Agree to Explore Opportunities for Enhanced Geothermal Systems

09:45 AM EST, 11/12/2026 (MT Newswires) -- Baker Hughes (BKR) has entered into an agreement with Turkiye's national oil company Turkiye Petrolleri Anonim Ortakligi to explore opportunities for enhanced geothermal systems in the country, the two companies said Thursday. The agreement, which was signed during the COP 31 climate conference in Antalya, outlines a phased approach for advancing next-generation geothermal development, which includes a country-wide assessment to evaluate the potential of the technology, according to a statement. Under the agreement, Baker Hughes said it will support further de-risking of the assets through evaluation of well locations and designs to assess their viability, followed by pilot drilling and commercial-scale development. Financial terms of the agreement were not provided. Price: 48.83, Change: -0.58, Percent Change: -1.17