Türkiye announces new era in oil, gas exploration following US agreement

Energy and Natural Resources Minister Alparslan Bayraktar has announced a new phase in the country’s oil and gas exploration efforts, following a partnership agreement with U.S. firms TransAtlantic Petroleum and Continental Resources.

Bayraktar shared details of the agreement at the iftar event organized by the ruling Justice and Development Party (AK Party) Pursaklar District Presidency.

He emphasized that the initiative aims to enhance Türkiye’s energy independence by expanding oil and gas production in Diyarbakir and later in Thrace.

Oil revenue covering energy bills

Bayraktar also underscored the importance of domestic oil production in reducing the financial burden on citizens. “We have started producing Türkiye’s highest-quality oil in Gabar, where many thought it was impossible to operate.”

“We have reached a daily production of 78,000 barrels. With the revenues from Gabar, the state can now cover 60% of electricity and natural gas bills,” he added.

Expansion in oil, gas exploration

The minister outlined the country’s efforts to increase domestic energy production, particularly in natural gas. “With the natural gas produced in the Sakarya Gas Field in the Black Sea, we are meeting the needs of three million households. Our production is increasing and will continue to grow,” Bayraktar stated.

The recent U.S. partnership marks a pivotal step in Türkiye’s energy strategy. “A new era in Turkish oil and gas exploration has begun. With new technology, we have launched a highly promising project in Diyarbakir and Thrace,” he said.

“We signed the deal in the United States, and with this agreement, we will elevate Türkiye to a new level. Through these efforts, we will achieve full energy independence in the ‘Türkiye Century.’ Over the next 20 to 30 years, Türkiye will become a net energy exporter,” Bayraktar added.

Progress in nuclear energy

Bayraktar also addressed Türkiye’s nuclear energy ambitions, recalling that generating electricity from nuclear power has been a national goal for 70 years. “Thanks to the determination of our president, our consecutive election victories, and political, economic, and policy stability, we have made progress.”

“The first reactor at Akkuyu Nuclear Power Plant is now 95% complete, and soon we will start generating electricity from nuclear energy,” he added.