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FinancialNews
03-05-23
Türkiye Discovers New High-Quality Oil Reserves, Aims to Become Energy Exporter
(MENAFN) Türkiye's President Recep Tayyip Erdogan announced on Tuesday that the country has discovered new oil reserves with a production capacity of 100,000 barrels per day in Cudi and Gabar, located in the eastern region of the country. Speaking at the opening ceremony of the Karapinar solar power plant and other newly-completed projects in central Konya province, Erdogan stated that the newly-found petroleum near Sirnak province "has a high-quality structure." He further emphasized that the discovery signifies that Türkiye will no longer depend on others in energy but rather become an energy exporter.
The oil was discovered at a depth of 2,600 meters (8,530 feet) and will be extracted using 100 wells, meeting one-tenth of the country's daily use. Erdogan also announced that the petroleum well in Gabar has been named after Aybuke Yalcin, a young music teacher who was killed in a PKK terror attack in 2017 in southeastern Türkiye. The Martyr Aybuke Yalcin-1 Well is expected to provide more oil than the amount produced around the whole country.
In addition to the oil discovery, Erdogan provided updates on the Akkuyu Nuclear Power Plant, stating that the country will be able to meet 10 percent of its energy needs from the plant. He also announced plans to build a second nuclear power plant in Sinop. Erdogan pledged to remove terror from Türkiye's agenda, stating that the country will overcome all obstacles that prevent Türkiye from utilizing its riches for the benefit of the nation.
Türkiye has been fighting against the PKK's terror campaign for over 35 years. The PKK is listed as a terrorist organization by Türkiye, the US, and the EU, and has been responsible for the deaths of over 40,000 people, including women, children, and infants. Erdogan's announcement of the new oil reserves signifies a significant step towards Türkiye's goal of becoming self-sufficient in energy and reducing its dependence on imports. The discovery is also expected to boost the country's economy and create new job opportunities in the energy sector.
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