Türkiye reveals total oil reserves value in Gabar region of Sirnak province

Economy Materials 5 May 2023 09:43 (UTC +04:00)
Türkiye reveals total oil reserves value in Gabar region of Sirnak province

BAKU, Azerbaijan, May 5. The total value of the oil reserves discovered in the Gabar region of Sirnak province in Türkiye accounts for $70 billion, CEO of Turkish Petroleum Corporation (TPAO) Melih Han Bilgin said, Trend reports via TurkicWorld.

He noted that oil at the Aybuke Yalchin field is similar in quality to Arab oil.

"Our goal is to produce 100,000 barrels of oil in 2 years. Oil from this field will cover 10 percent of the country's needs," the CEO added.

Turkish President Recep Tayyip Erdogan announced the discovery of new oil reserves in the Judi and Gavar districts of Sirnak province in the south-east of the country on May 2. He also said at the time that 'Türkiye discovered high-quality petroleum with a daily production capacity of 100,000 barrels'.

The total volume of oil and oil products imports to Türkiye in January 2023 reached 3.449 million tons. The import of crude oil, which is the largest item in Türkiye's total oil imports, decreased by 13.56 percent to 2.25 million tons.

The statistics say that 1.18 million tons of crude oil and petrochemical products were imported from Russia, followed by Iraq and Kazakhstan with 917,656 tons and 683,740 tons, respectively.

The country consumed 246 million barrels of imported crude oil in 2022, in addition to 29 million barrels of locally produced crude oil, according to official data.