Türkiye sees fresh daily gas, oil production records this month

ANKARA

Türkiye has logged a fresh record in daily natural gas and oil production this month, Energy and Natural Resources Minister Alparslan Bayraktar has announced.

On Aug. 15, the country’s daily natural gas production hit 7.6 million cubic meters, while daily oil production reached 107,621 barrels, Bayraktar said.

“We are moving toward our goal of increasing both oil and gas production in 2024. Our oil and gas production has reached an all-time high in August,” the minister said in a statement.

Oil production in Gabar Mountain reached 47,058 barrels on Aug 17, while natural gas production from the Sakarya Field was 6.15 million cubic meters, according to Bayraktar.

Türkiye discovered large reserves, estimated to hold 710 billion cubic meters of natural gas in the Black Sea in August 2020.

The Sakarya Field’s production is expected to rise to 10 million cubic meters by April next year, Bayraktar said earlier this month, adding that the production at this site will continue well into 2055.

Türkiye will continue to conduct explorations in the Black Sea, Mediterranean, Somalia and Libya in the future to increase production, the minister said at the time.

Domestically produced natural gas is also helping Türkiye reduce its import bill.

In the first half of 2024, the country’s natural gas production reached around 900 million cubic meters, in which the Sakarya Field’s share was 70 percent, said Yaşar Arslan, the president of the Association of Natural Gas Distributors of Türkiye (GAZBİR).

From January to June, Türkiye paid some $9 billion for imported natural gas, Arslan noted.

“Thanks to local production, the import bill was down by around $300 million to $350 million during this period,” he added.