Thursday, June 8, 2023

Turkey Makes Huge 1-Billion-Barrel Oil Discovery

According to Turkish Petroleum (TPAO), the largest onshore oil reserve in Turkey has been discovered in the southeast province of Sirnak, with an estimated 1 billion barrels of oil. This significant find was announced on Wednesday.

Turkish Petroleum (TPAO) has reported that they have drilled down to a depth of 2,771 meters and discovered a light oil-bearing reservoir that spans more than 162 meters. The well, named Sehit Aybuke Yalcin-1, is situated 20 kilometers northwest of Cizre town and currently yields 10,000 barrels of oil per day.

TPAO has announced plans to construct a full field development plan by the end of the year, which includes drilling additional appraisal wells. The goal is to reach a production rate of 100,000 barrels per day, more than doubling Turkey’s current oil production.

Currently, Turkey relies on imports of natural gas from several countries, including Russia, Azerbaijan, and Iran, as well as imports of liquefied natural gas. To reduce this dependency, Ankara is taking steps to develop its own natural resources, such as the 710 billion cubic-meter natural gas field in the Black Sea. This field is being developed for production. Can Sezer reported this news while Ali Kucukgocmen wrote the report, and Mark Potter edited it.

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