15.03.2025 11:50
The Minister of Energy and Natural Resources, Alparslan Bayraktar, stated that unconventional methods will be used for oil and natural gas production under the agreement signed by the Turkish Petroleum Corporation (TPAO) with TransAtlantic Petroleum and Continental Resources, saying, "A new era is beginning in Turkish oil and natural gas exploration."
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Bayraktar, in the context of various contacts, made a statement to AA correspondent in Houston, USA.
Bayraktar pointed out that a new phase has been entered in oil and natural gas exploration activities in Turkey, especially after 2016, noting that one of the elements of this is offshore exploration.
Bayraktar stated that the strategy of conducting exploration activities with Turkey's own fleets, seismic and drilling ships, and engineers was implemented in 2017, recalling that they made the largest natural gas discovery in the history of the Republic in the Sakarya Gas Field in 2020.
Noting that the natural gas produced in that field has reached nearly 3 million households in a very short time, Bayraktar announced that production there will increase to 9.5 million cubic meters by next month, and that this will double by the third quarter of 2026.
Bayraktar expressed that they continue drilling activities for new discoveries.
Bayraktar, who stated that they made the largest oil discovery in the history of the Republic in Gabar in 2021, emphasized that they are currently producing 78,000 barrels of oil, aiming to increase this figure further and are working on new discoveries in that region.
OIL AND NATURAL GAS PRODUCTION WILL BE SIGNIFICANTLY INCREASED
Bayraktar referred to the joint venture agreement signed by TPAO with TransAtlantic Petroleum and Continental Resources, stating, "A new era is opening in Turkish oil and natural gas exploration. Production of underground oil and gas resources will be carried out with unconventional, different exploration methods."
In this context, Bayraktar reported that they signed an agreement within a 4-year program, stating that this agreement will bring these production methods to Turkey and significantly increase oil and natural gas production.
Bayraktar pointed out that they are working to increase oil and natural gas production on one hand and to diversify the existing natural gas supply on the other, also discussing the arrival of Turkmen gas to Turkey.
Recalling that an agreement was signed following the meeting between President Recep Tayyip Erdoğan and Gurbanguly Berdimuhammedov, Chairman of the People's Council of Turkmenistan, at the Antalya Diplomacy Forum last year, Bayraktar continued:
"Within the scope of the agreement, perhaps initially not through a pipeline but through a swap agreement, we produced a practical solution for the delivery of Turkmen gas from the Iranian entry point to Turkey, and we have implemented this. The gas flow to Turkey started on March 1. By the end of this year, a flow of 1.3 billion cubic meters is expected. This will provide us with significant support in diversifying our gas portfolio and reducing the cost of gas."
Bayraktar emphasized that the goal is to increase this amount a bit more and to elevate the process to a higher level with a pipeline crossing the Caspian Sea in the future.
A MULTIFACETED AND BALANCED ENERGY POLICY IS BEING PURSUED
Bayraktar emphasized that Turkey is pursuing a multidimensional, multilateral, and balanced energy policy, stating that they attach importance to diversification.
Bayraktar highlighted the importance of multilateral energy cooperation, saying, "This includes the US-Turkey energy cooperation. There are other issues to follow. We aim to increase our cooperation in the gas sector, including LNG, and in other areas. In the nuclear field, especially with small modular reactors, and in mining, Turkey-US relations are entering a different era, especially in energy."
While carrying out these activities, Bayraktar explained that they do not exclude any source within a balanced policy set, stating that Turkey also needs to utilize its coal and renewable energy resources.
Bayraktar stated that they aim for a solar and wind energy portfolio of up to 120,000 megawatts by 2035, concluding his remarks as follows:
"Turkey will become a country that guarantees its own supply security with a balanced, diversified portfolio and multilateral relations, as a country that utilizes renewable energy, uses its energy efficiently, and incorporates nuclear into its energy mix, while also supporting neighboring countries in terms of supply security."
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