Turkiye Plans to Explore Huge Shale Gas Reserves

SEATTLE (Oil Monster):  Turkiye eyes to explore its large shale gas reserves estimated at around 679 billion cubic metres, as part of its ongoing efforts to reduce its dependency on imported energy and diversify its energy sources. The country had recently announced discovery of 710 billion cubic meters of natural gas in the Black Sea and several million barrels of oil in the southeastern Gabar region.

Almost a decade ago, drilling for shale gas was carried out by a private company in the southeastern province of Diyarbakir. Currently, the drilling activities are done by state-owned TPAO at five wells in southeastern Turkiye and 10 wells in the Thrace region. It must be noted that six wells in the Thrace have already been put into production.

According to rough estimates, the market value of the country’s shale reserves are estimated at around $350 billion. Energy experts point out that the country possess the technology to extract shale gas from a depth of up to 5,000 metres. Although shale gas extraction is easier than traditional oil and natural gas extraction, it is more expensive.

The Turkish government expects the country’s energy imports to record increase from $71 billion in 2023 to $77.3 billion this year. The imports are projected to decline to $76.3 billion in 2025.

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