ANKARA, Turkey–Turkish President Recep Tayyip Erdogan announced a significant oil field discovery in the Southeast region of the country, poised to yield a daily production of up to 100,000 barrels, marking a significant milestone for Turkey’s energy sector.
With this new discovery, Erdogan emphasized that Turkey can now expand its energy exports and take a significant step towards achieving energy self-sufficiency.
This announcement follows another major oil field discovery made in December, which holds reserves of 150 million barrels valued at $12 billion. Erdogan previously stated that it was one of the ten largest onshore oil field discoveries of 2022.
During a speech in Konya, Erdogan declared, “We have discovered an oil field in Mount Gabar near the city of Cizre with a productivity rate reaching about 100,000 barrels per day. We have already commenced the supply of high-quality oil to a refinery.”
The oil field has been named after Aybueke Yalcin, a teacher who tragically lost his life in 2017 in an incident involving the Kurdistan Workers’ Party (PKK), an organization Ankara designates as a terrorist group.
President Erdogan estimated that the discovered field holds oil reserves worth “tens of billions” of dollars, further bolstering Turkey’s energy prospects and contributing to its economic growth.
Turkey is almost completely dependent on imports to cover its energy needs, which leaves it vulnerable to rising costs that skyrocketed following Russia’s invasion of Ukraine, and domestic demand has risen since the coronavirus pandemic.
The country’s annual gas consumption rose from 48 bcm in 2020 to a record 60 bcm in 2021 and is expected to reach 62 bcm to 63 bcm this year, according to official figures.
Last year, 45% of the gas used in Turkey came from Russia and the rest from Iran and Azerbaijan.