Turkish President Recep Tayyip Erdogan said that Türkiye has discovered new reserves of natural gas with a size of 75 billion cubic meters during a excavation in the Black Sea.
He added during an event in Istanbul, “With this disclosure, we will meet the needs of home gas in Türkiye for a period of 3 and a half years,” he added during an event in Istanbul.
Erdogan stated that this discovery – which is close to the economic value of $ 30 billion – was found in a well at a depth of 3500 meters.
He emphasized that the natural gas discovered in the Screen fields in the Black Sea is a great turning point for the Turkish people, and pointed out that his country has so far performed 11 drilling operations in the Mediterranean Sea and 38 operations in the Black Sea.
Türkiye’s daily production of natural gas from the main Screen field in the Black Sea reached about 9.5 million cubic meters, and seeks to enhance its energy aspirations locally and internationally.
Türkiye imports more than 90% of its energy needs, and seeks to reduce the import bill and enhance supplies security by developing local resources and expanding international partnerships in the field of oil and gas exploration.
Previous discoveries
- The Turkish Petroleum Company discovered quantities of natural gas with a size of 320 billion cubic meters in August 2020, and upon completion of exploration, the backup in the well was updated to 405 billion cubic meters.
- In June 2021, a new reserve of 135 billion cubic meters was discovered to the total natural gas reserves in the Black Sea 540 billion cubic meters.
- In December 2022, the aforementioned reserve was updated to 652 billion cubic meters, after the re -evaluation.
- It was also announced that a new 58 billion cubic meters were discovered, bringing the total volume of discovered reserves in the Black Sea 710 billion cubic meters.
