Turkey's energy ministry talks crude oil reserves

Oil&Gas Materials 31 May 2020 10:38 (UTC +04:00)
Turkey's energy ministry talks crude oil reserves

BAKU, Azerbaijan, May 31

By Nargiz Ismayilova - Trend:

Crude oil reserves stored in tanks in Turkey amounted to 7.4 billion barrels by the end of 2019, the country’s Ministry of Energy and Natural Resources told Trend.

According to the ministry, oil-in-place that could have been extracted in 2019 amounted to 1.4 billion barrels.

The total volume of produced oil over the year amounted to 1.1 billion barrels.

During the reporting year, the remaining recoverable oil reserves amounted to 360.3 million barrels.

In 2019, 5,063 exploration wells were drilled in Turkey. Out of them, 104 wells with a total depth of 133,386 meters were drilled by the organizations of the Mineral Research and Exploration General Directorate of Turkey (MTA), and 257 wells with a total depth of 311,662 meters - by other Turkish companies.

As many as 1,312 exploratory wells with a total depth of over 2.2 million meters were drilled by foreign companies, and 342 wells - by joint ventures and consortia.

In 2019, Turkish Petroleum Corporation (TPAO) discovered 510 deposits, MTA - 8 deposits, other domestic companies - 24 deposits, foreign companies - 306 deposits, and joint consortiums - 93 deposits, said the ministry.


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