Turkey discovers new oil fields

By Azernews

By Vugar Khalilov

Turkey has discovered new oil reserves in 13 wells, Turkish media reported on August 18.

Turkish Petroleum Corporation (TPAO) announced that approximately 30 million barrels of oil reserves have been discovered in the country as a result of exploration work conducted in land areas in the first seven months of 2021.

According to TPAO, the total volume of the new reserves has been estimated approximately 2.1 billion dollars.

Turkey produces 60 thousand barrels of oil per day, which is far from to cover the daily 700 thousand barrels of oil consumption, the company said.

The newly discovered 30 million-barrel reserve is large enough to meet Turkey's 43-day consumption. Turkey aims to increase its daily oil production to 100 thousand barrels by 2023, TPAO added.

Turkish Petroleum operates on land and at sea with its seismic exploration and drilling vessels. The company’s drilling activities with the drillship have already yielded positive results.

Turkish Petroleum Corporation (TPAO) was founded in 1954 to conduct hydrocarbon exploration, drilling, production, refinery and marketing activities in Turkey.