Turkiye’s state energy company Turkish Petroleum Corporation (TPAO) is set to surpass all previous production figures by the end of this year, setting a new record and making 2023 a remarkable year for the company, Energy and Natural Resources Minister Alparslan Bayraktar said Saturday.
The newly appointed minister was speaking during a field visit to southeastern Şırnak province, where the country has most recently discovered oil.
Looking ahead to 2024, Bayraktar emphasized the significance of that year for Turkish Petroleum, as it will mark its 70th anniversary.
He projected that the TPAO would continue to elevate its production records and aims to achieve a daily production milestone of 200,000 barrels.
“This feat would effectively meet approximately 20% of Turkiye’s energy requirements,”he said.
Stating that Şırnak has become an important center for Turkiye and the world oil markets, Bayraktar said: “Şırnak is turning into a very important oil center with the discoveries we have made recently. It is a recourse to its origin. Şırnak has always been an important oil center since the 1970s. The route is one of the routes through which the Iraq-Turkiye pipeline passes.”
Referring to PKK terrorism in the region, he said that regions that were once synonymous with terrorism, such as Gabar, Kato and Bestler-Dereler regions, are now associated with oil.
“This region has become the region of peace, tranquility and oil. These regions were cleared of terrorism with the determined, persistent stance and struggle of the Republic of Turkiye. All of our institutions, especially our governors, local administrators, relevant institutions, security forces, gendarmerie, police and military, have made these regions truly peaceful and livable.”
“Right after that, we continued the work we started in oil and natural gas exploration here, and we started to get results from them,” he said.
Turkiye’s daily output has topped 70,000 barrels, the TPAO said most recently, adding: “With our discoveries, we have exceeded the highest domestic daily production level in the last 32 years.”
Turkiye, in early May, announced it had discovered 1 billion barrels of oil in a field in the southeast province of Şırnak, the largest onshore oil find in the country.
TPAO has drilled 2,771 meters (9,091 feet) deep and found an over 162-meter light oil-bearing reservoir, with further prospects to be explored in the area.
The country discovered 150 million barrels of oil in the southeast’s Mount Gabar area in December 2022.
President Recep Tayyip Erdoğan had dubbed it “one of the top ten onshore discoveries in 2022” and said it was valued at approximately $12 billion.
Turkiye, which has little oil and gas, imports nearly all its energy needs. The country consumed 246 million barrels of imported crude oil in 2022, besides 29 million barrels of locally produced crude oil, according to official data.