Good news on Türkiye's oil, natural gas exploration works: Minister

Fatih Dönmez, Turkish Minister of Energy and Natural Resources said that 'more good news can come' regarding the country's natural gas and oil discovery works. 'There are intensive works in both the Mediterranean and the Black Sea. We are conducting another exploratory drilling in the well, named Çaycuma-1 in the neighboring area of the Sakarya Gas Field. The first data are positive.' Answering questions in a program he was a guest, Dönmez gave information about the drilling works. 'Our Sultan Abdulhamid Han drilling ship in the Mediterranean has completed its first drilling. Analyzes are ongoing and it is in the port to make preparations for the new mission,' he said, adding that the works are ongoing in the Black Sea and the first data are positive. 'WE CAN GIVE MORE GOOD NEWS' 'When we get the result there, we will share it with our citizens. The Black Sea is promising for us. We see and evaluate it as a field where we can give more good news. If we are patient, god willing, it will happen.' He also said that the reserve estimations are ongoing as well. 'The first data may also lead to the need to update our 540 billion cubic meters of natural gas data upwards.' 'OIL ALMOST AT WATER LEVEL' Making remarks also about the country's work of oil research, the minister said that a third well has been drilled in the Çukurova region, and there is a reserve of approximately 8-10 million barrels. 'We produce oil from 350-400 meters shallow. Those who live in that area know that if you drill an artesian well to irrigate, you have to go down that much also.' 'We found oil almost at the water level, which is a great blessing. It is a quality oil that has a value of approximately 800 million dollars. We will go up to 10 wells there, and in total, maybe our daily production will be up to a thousand barrels,' he added. GAS HUB OFFER Sönmez also stressed that Putin's proposal of a gas hub in Türkiye is 'extremely important.' 'For 4-5 years, we have strengthened this goal by working hard day by day and brought it to this day. We can bring natural gas from many parts of the world. We have become the center of attraction of the world,' he said. 'We supply gas from 15 different countries, from the US to the Gulf countries and, even rarely, from the Asia-Pacific. That's enough resource to be a gas hub. Especially after we increase the LNG capacity, maybe we will give it to neighboring countries,' he added. 'Distribution and trading center are confused at times. I can say that our infrastructure is enough. Other countries have wishes and desires to send gas to Türkiye.' GAS DEPENDENCY TO DECREASE TO 70 PERCENT Sönmez also said that the gas dependency of Türkiye will be decreasing to %70 soon. 'If nothing goes wrong, we will deliver the first gas to our citizens in the centennial year of our Republic, all our aim and effort is working in that direction,' he said. 'God willing, when we connect our gas to the system our costs related to this will be more clear and we will present it to our President.' 'We import 99 percent of the gas we consume. In other words, when the Black Sea gas comes into play in a product that we are almost completely dependent on, and when we start full production, we will be using our own gas, 25-30 percent of the total consumption,' he stressed. 'Our foreign dependency on natural gas will decrease to 70 percent. But if discoveries come as a result of new research, of course, this rate will decrease, even more, I hope.' RECORD IN MINE EXPORTS Minister Sönmez also highlighted Türkiye's place in the world regarding mines, saying that the country ranks well in the world in terms of mineral diversity. 'We have about 70 kinds of mines. While our mine exports were approximately 700 million dollars in 2002, it reached 5.90 billion dollars last year,' he said. 'We will probably exceed 6 this year and break a record; because as of the end of October, we had an export of 5.4 billion dollars.'

Good news on Türkiye's oil, natural gas exploration works: Minister

"There are intensive works in both the Mediterranean and the Black Sea. We are conducting another exploratory drilling in the well, named Çaycuma-1 in the neighboring area of the Sakarya Gas Field. The first data are positive," Turkish Energy Minister Fatih Dönmez said.

RECORD IN MINE EXPORTS