Turkey announces plans to raise oil production to 1 million barrels per day

Turkey plans to increase oil production by its national oil and gas company TPAO to 550,000 barrels in 2028, and subsequently bring the figure to 1 million barrels per day.

This was stated by the republic's Minister of Energy and Natural Resources Alparslan Bayraktar at the ceremony marking the departure of Turkey's first floating oil and gas production platform, Osman Gazi, to a field in the Black Sea.

"Thanks to new fields explored over the past five years, our national company TPAO has doubled production, bringing it to approximately 300,000 barrels. In 2028, we will bring this figure to 550,000 barrels, and, I hope, we will reach the goal of 1 million barrels per day. We are continuing our search for new gas and oil fields in the Black Sea," the minister said.

Bayraktar noted that Turkey is conducting active geological exploration work not only on its own territory, but also abroad. "There are active oil searches in Somalia, Iraq, Azerbaijan, Pakistan, Hungary, Bulgaria, Oman and Libya," he said.

According to him, Turkey simultaneously intends to increase proven gas reserves at the Black Sea field Sakarya and continue drilling operations in other areas of the Black Sea, as well as in southeastern Turkey in search of new natural gas and oil deposits.

"Today Turkey has six deepwater drilling vessels, two seismic exploration vessels and support vessels, and possesses the fourth largest energy fleet in the world," Bayraktar stated. "We are determined, with the help of our own vessels, our own engineers and technicians, and our own equipment, to make our country a regional leader and a global player in this field."

Source: TASS