Türkiye discovers additional 58 bcm of gas reserves in Black Sea

President Recep Tayyip Erdoğan announced that the Fatih drilling ship discovered an additional 58 billion cubic meters (bcm) of natural gas reserves at depth of 3,023 meters at Çaycuma 1 block off Black Sea.

Speaking after the cabinet meeting of the year in the capital Ankara on Monday, the president said the new discovery would greatly contribute to the country’s energy independence.

He noted that Türkiye’s natural gas reserve in the Black Sea totals 710 bcm, with market value of $1 trillion.

“Türkiye’s ultimate goal is to declare energy independence from foreign oil and natural gas as soon as possible,” the president said.

Erdoğan continued by saying that the new discovery would further extend new discoveries in neighboring fields and that Türkiye would soon start new drilling activities.

“We are determined to ensure that Türkiye becomes the center of energy in the Caspian and Mediterranean seas and the Middle East,” he said, adding that the country would also be a link between the East and the West with its energy bridges.

Ankara aims to start pumping the gas to the national grid in 2023, the centennial of the founding of modern Türkiye, with sustained plateau production starting in 2027-2028.

Türkiye currently has two seismic research ships, Oruç Reis and Barbaros Hayrettin Paşa, and three drillships, Fatih, Kanuni and Yavuz operating.

The three drilling vessels are expected to soon join hands and operate simultaneously in the Black Sea to expedite works to start using the natural gas discovered in the region.