Turkiye announces discovery of 92.4 billion cubic meters of natural gas

Ankara: Turkiye announced Friday that it has discovered 92.4 billion cubic meters of natural gas this year, with a market value of USD 37 billion....

Ankara: Turkiye announced Friday that it has discovered 92.4 billion cubic meters of natural gas this year, with a market value of USD 37 billion.

Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar, stated during a press conference regarding the presentation of his ministry and its affiliated bodies' 2026 budgets to the Planning and Budget Committee of the Turkish Parliament, that his country discovered 92.4 billion cubic meters of natural gas this year, with a market value of USD 37 billion. Of this, 75 billion cubic meters were discovered in the Goktepe-3 well last May.

He said that Turkiye aims to conduct 300 drilling operations in 2026, 282 of which will be onshore and 18 offshore.

He affirmed that the country has reached its highest oil and gas production levels in its history, noting that its daily oil production is 180,000 barrels, enough to fuel approximately 7 million vehicles daily.

He noted that oil production at Mount Gabar in Şırnak province in southeastern Turkiye has increased from 57,000 barrels to 81,000 barrels per day, contributing to a reduction in the trade deficit of approximately USD 2 billion annually.