Fossil Energy – Black Sea
Turkey has discovered a new reserve of 75 billion cubic metres (bcm) of natural gas during drilling works in the Black Sea.
“With this discovery, we will meet the natural gas needs of homes in Turkey for 3.5 years,” President Tayyip Erdogan said last Saturday.
The discovery, with an economic value of around $30 billion, was found in the Goktepe-3 well at a depth of 3,500 metres.
Turkey’s daily natural gas production at its flagship Sakarya field in the Black Sea has reached around 9.5 million cubic metres, as the country ramps up its energy ambitions both at home and abroad.
Turkey, which imports over 90% of its energy needs, is pushing to cut its import bill and boost supply security by developing domestic resources and expanding international partnerships in oil and gas exploration.
