New oil reserves unearthed, Energy Minister Bayraktar announces major discovery

Türkiye discovered 66 million barrels of oil reserves in Southern Anatolia as part of its ongoing exploration efforts, Minister of Energy and Natural Resources Alparslan Bayraktar announced.

Speaking about the developments, Bayraktar said, “We are now able to meet the needs of 3.5 million households through our domestic natural gas production. By incorporating a floating production platform into the Sakarya Gas Field, we aim to increase our daily production capacity to 20 million cubic meters.”

‘Energy investments will save $46 billion’

Türkiye has completed 84 drilling projects in 2024, primarily in Sirnak, Hakkari and Van, according to Bayraktar. By the end of the year, this number is expected to reach 103, with a target of completing 143 exploratory drilling operations in 2025. The country’s enhanced infrastructure now enables an annual supply capacity of 80 billion cubic meters of natural gas.

Bayraktar also highlighted the Akkuyu Nuclear Power Plant’s significance, noting that, once fully operational, it is expected to meet 10% of Türkiye’s electricity demand. The plant will also save 7 billion cubic meters of natural gas imports annually and reduce carbon emissions by 35 million tons.

“By 2030, we plan to invest over $20 billion in energy efficiency projects,” Bayraktar added. “These initiatives will generate $46 billion in energy cost savings over the next 15 years.”