Turkey intends to increase its oil production to 1 million barrels in the longer term. By 2028, the national oil and gas company TPAO will raise the figure to 550,000 barrels, Turkish Energy Minister Alparslan Bayraktar said.
Türkiye's state oil company has discovered a new field in the Black Sea and applied to the authorities for a development licence
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.
Türkiye has received a license to conduct exploration work to discover oil in the Sea of Marmara. The country expects to provide 10% of its oil needs in the southeast of the country this year.
SOCAR's subsidiary will drill 4 wells located in the southeastern part of Türkiye
Another oil field has been discovered in Türkiye. It is located near the city of Cizre in the region of Mount Gabar.
