Business · Energy & Commodities · 11 hrs ago

Turkey says new Gabar oil fields hold 135 million barrels of potential

Turkey says new Gabar oil fields hold 135 million barrels of potential

Turkey says it has found 135 million barrels of oil potential at two new fields in Gabar, in the country’s southeast.

Energy Minister Alparslan Bayraktar named the fields Gaziler and Çardaklı, and said production has started.

The discovery adds to production from 184 wells at Gabar, where output has reached 84,000 barrels a day, according to Bayraktar.

He said that output alone now covers 8% of Turkey’s oil consumption.

Bayraktar also said oil produced at Gabar so far has contributed $6 billion toward reducing Turkey’s current-account deficit.

The government’s next stated goal is to exceed 100,000 barrels a day by 2027.

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Alparslan BayraktarTurkey’s energy and natural resources minister
135 million barrels of oil in place potential have been identified and production has begun
via Sabah
Our target is to exceed the threshold of 100,000 barrels of daily production in 2027
via Sabah