Turkey Discovers $30 Billion Lira Worth Of Natural Gas In Black Sea: Erdogan

SEATTLE (Oil Monster): Turkey has uncovered a new natural gas reserve containing 75 billion cubic metres during ongoing drilling operations in the Black Sea, President Recep Tayyip Erdogan announced on Saturday.

“With this discovery, we will meet the natural gas needs of homes in Turkey for 3.5 years,” Erdogan stated during an event in Istanbul.

The reserve, estimated to hold an economic value of approximately $30 billion, was located in the Goktepe-3 well at a depth of 3,500 metres.

Sakarya Field Production Reaches 9.5 Million Cubic Metres Daily

This latest discovery comes as Turkey continues to scale up its natural gas production. The daily output at the country’s flagship Sakarya gas field in the Black Sea has reached about 9.5 million cubic metres, a significant milestone in Ankara’s broader energy strategy.

Drive Toward Energy Independence

Turkey currently imports more than 90 per cent of its energy needs. In a bid to reduce its energy import bill and enhance energy security, the country has been intensifying efforts to tap into domestic resources and strengthen international partnerships in oil and gas exploration.

Courtesy: www.newsx.com