Turkey finds new natural gas reserve in Black Sea, Erdogan says
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Turkey has discovered a new natural gas reserve of 75 billion cubic meters (bcm) during drilling operations in the Black Sea, President Recep Tayyip Erdogan announced on Saturday.
Speaking at an event in Istanbul, Erdogan said:
“With this discovery, we will meet the natural gas needs of households in Turkey for 3.5 years.”
The new reserve was found in the Goktepe-3 well at a depth of 3,500 meters. The economic value of the discovery is estimated to be around $30 billion, Erdogan added.
Currently, Turkey's daily natural gas production from the flagship Sakarya gas field in the Black Sea has reached 9.5 million cubic meters, as the country continues to boost its domestic energy output.
Turkey imports more than 90% of its energy needs, and the government has been working actively to reduce energy imports by developing domestic resources and forming new international partnerships in oil and gas exploration.
Source: Reuters
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