Introduction

Turkish oil fields have been stationed until the last year in the southern-east side of the country, near the Iraqi Syrian borders. Specifically, in Şırnak and Batman states, however, the world has witnessed an announcement of new discoveries of oil fields in the last year in both Diyarbakir and Siirt states in the same area, as well as Adana state, located in the south side of the country near the white sea.

“One of the 10 world’s biggest discoveries of crude in 2022”, with that sentence, Turkish President Recep Tayyip Erdogan announced the discovery of a new oil field in the southeast of Turkey, including estimated oil reserves of around 150 million bpd of high-quality oil, with an estimated value of 12 billion dollars.

The Turkish president confirmed in a press conference after a cabinet meeting in Ankara that Şırnak state which has Gabar mountain where the oil field was discovered, has already 4 oil wells with a production of 5 thousand bpd.

In the aggregate, Turkey produces around 65,000 oil barrels per day. The Turkish President confirmed that they are aiming to increase this number to 100,000 bpd in 2023.

In a country that doesn’t have much fossil riches, the Turkish government relies on new discoveries of oil and gas to support the national economy and reduces the imported energy bills, which directly impact the trade balance and inflation rates.