Turkish Energy Minister Talks about new oil fields

Türkiye had discovered 57 million barrels of oil reserves valued at approximately $4 billion across several regions so far this year, Turkish Energy and Natural Resources Minister Alparslan Bayraktar said.

According to the minister, the discoveries were made in Diyarbakır, Gabar and Batman.

The project covers four sites, including an area of about 600 square kilometers north of Bismil, where Türkiye plans to carry out 24 vertical and horizontal drillings, he added.

"We're working with American companies, global leaders in this technology, which has made the U.S. the world's top oil and gas producer," Alparslan Bayraktar said.

In evaluations with partners at the four sites, reserves of 350 million barrels have been identified. Diyarbakır as a whole may hold 4 billion to 6 billion barrels of shale oil and gas potential.

This year, Türkiye  will carry out one vertical drilling and fracturing operation. Over the next three years they plan to explore the field with 24 wells and eventually move into production.