Türkiye has explored a new oil reserve with high gravity, from which 100.000 barrels can be extracted daily. The new reserve was announced by president Erdoğan yesterday.
Türkiye consumes 1 million barrels per day, thus the new reserve will meet 10% of Türkiye’s oil need. Extracting and delivering the oil to refineries will be easy as wells are close to pipelines.
After exploration of 710 billion cbm gas, the new oil reserve is expected to reduce energy cost of Türkiye dramatically.
Turkish state-owned oil and gas companies continue their searches and, as per analysts, new explorations will not be surprising.
People also benefit from new reserves. Turkish consumers will not pay their gas bill in May while they can use 25 cbm per month for one year.