Turkey announces more gas reserves found in Black Sea

Türkiye's president Recep Tayyip Erdogan announced the discovery of an additional 58 billion cubic meters of natural gas in the Black Sea.

"Our drill ship Fatih has explored 58 billion cubic meters of natural gas reserves, 3,023 meters under the sea, at the Caycuma 1 block," said Erdogan following a Cabinet meeting at the Presidential Complex in Ankara.

Stressing that Türkiye's natural gas reserve in the Black Sea totals 710 billion cubic meters (25 trillion cubic feet) with a market value of $1 trillion, Erdogan said the country's ultimate goal is to declare energy independence from foreign oil and natural gas as soon as possible.

"Our new exploration will pave the way for similar explorations in other geological fields adjacent to the region. We will launch new drilling as soon as possible," Erdogan added.