Turkey discovers new natural gas reserves of 75 billion cubic meters in the Black Sea.
The Turkish President Recep Tayyip Erdogan announced today, Saturday, that Turkey has discovered new natural gas reserves of 75 billion cubic meters during exploration in the Black Sea.
He stated during an event in Istanbul, "With this discovery, we will meet the household natural gas needs in Turkey for 3 and a half years."
Erdogan mentioned that this discovery, with an estimated economic value of 30 billion dollars, was found in a well at a depth of 3500 meters.
Turkey's daily natural gas production from the main Sakarya field in the Black Sea is around 9.5 million cubic meters, as it seeks to enhance its energy ambitions domestically and internationally.
Turkey imports more than 90% of its energy needs and aims to reduce the import bill and enhance supply security by developing local resources and expanding international partnerships in oil and gas exploration.
