2 yıl önce

Türkiye’s new oil discovery at Cukurova to produce up to 8M barrels

Türkiye’s Energy Minister Fatih Donmez says more drilling is planned at the Cukurova field in the southern Adana province.

AA

The drilling efforts are part of the government’s plan to reduce dependency on costly energy imports.

The quantity of recoverable oil from the Cukurova field in the southern Adana province is expected to reach up to 8 million barrels, Türkiye has said.

Türkiye’s Energy Minister Fatih Donmez’s remarks on Thursday came during a visit to the field where Türkiye’s President Recep Tayyip Erdogan announced the discovery of $1 billion worth of oil reserves on June 28.

As the Cukurova-1 and Cukurova-2 wells are the shallowest in the country, at a depth of 430 metres and 358 metres, respectively, both investment and production costs will be very low, Donmez explained.

The daily average output from these wells at the early stage of development is 100-120 barrels, but Donmez said the forecast when developed is for around 7.5-8 million barrels of oil from this field, the value of which is approximately $1 billion.

On the success of this economic oil find, Donmez said more drilling is planned in eight wells to bring the total number to 10 by the end of the year.

Daily oil production almost doubled

The drilling efforts are part of the government’s plan to reduce dependency on costly energy imports.

Donmez recalled that just four or five years ago, daily oil production by the state company for drilling and exploration, Turkish Petroleum (TPAO) was 37,000 barrels but it has now slightly exceeded 60,000 barrels.

“Over the same period, we have added another 70 million barrels to our total reserves with additional discoveries,” he said.

These additions have helped alleviate oil and gas imports, which are very high at 92 percent for oil and 99 percent for natural gas.

SOURCE: AA