Azernews.Az

By News Centre

The Minister of Energy and Natural Resources, Alparslan Bayraktar, made a statement to the Anadolu Agency (AA) while in Houston, USA, for various meetings.

Bayraktar pointed out that after 2016, Turkiye entered a new phase in oil and natural gas exploration, with one of the key components being offshore exploration. He explained that Turkiye adopted the strategy of conducting exploration with its own fleets, seismic and drilling vessels, and engineers in 2017. He recalled that in 2020, Turkiye made the largest natural gas discovery in the history of the Republic in the Sakarya Gas Field.

He stated that the natural gas produced in that field reached nearly 3 million households in a very short time and mentioned that the production would increase to 9.5 million cubic meters next month, with a twofold increase expected by the third quarter of 2026. Bayraktar noted that drilling operations for new discoveries continue.

Bayraktar also mentioned that in 2021, Turkiye made the largest oil discovery in the history of the Republic in Gabar. He stated that today, they are producing 78,000 barrels of oil, with plans to increase this figure and continue working on new discoveries in the region.

Bayraktar touched upon the joint venture agreement signed between TPAO, TransAtlantic Petroleum, and Continental Resources, emphasizing that "a new era is opening in Turkish oil and natural gas exploration. Oil and gas resources will be produced using unconventional and different exploration methods."

He mentioned that under a 4-year program, Turkiye would bring these production methods into the country, significantly increasing oil and gas production.

Bayraktar pointed out that, while increasing oil and natural gas production, they are also working to diversify the current natural gas supply, and he discussed the delivery of Turkmen gas to Turkiye. He recalled that an agreement was signed following a meeting between President Recep Tayyip Erdoğan and the Chairman of the Turkmenistan People's Council Gurbanguly Berdimuhammedov at the Antalya Diplomacy Forum last year.

He continued:

"As part of this agreement, we found a practical solution for the delivery of Turkmen gas to Turkiye from the Iranian entry point, not initially through a pipeline but through a barter agreement, and we have implemented it. The gas flow to Turkiye started as of March 1st. By the end of this year, the flow will be 1.3 billion cubic meters. This will provide a significant contribution to diversifying our gas portfolio and reducing the cost of gas."

Bayraktar emphasized that the goal is to increase this amount and, in the future, move to a higher level with a pipeline crossing the Caspian Sea.

Pursuing a Multidimensional and Balanced Energy Policy

Bayraktar stressed that Turkiye follows a multidimensional, multilateral, and balanced energy policy and places great importance on diversification. He highlighted the significance of multilateral energy cooperation, saying, "This includes US-Turkiye energy cooperation. There are other issues to follow as well. We aim to increase our cooperation in areas like LNG on the gas side and in other sectors. Particularly in nuclear energy, with small modular reactors, and in the mining sector, with critical minerals, Turkiye-US relations are entering a new phase, especially in energy."

While implementing these policies, Bayraktar explained that Turkiye does not exclude any energy source within a balanced policy framework and must also utilize coal and renewable energy sources. He added that Turkiye aims to have a solar and wind energy portfolio of up to 120,000 megawatts by 2035.

He concluded by saying: "Turkiye, as a country that produces renewable energy, uses energy efficiently, and integrates nuclear energy into its energy mix, will become a country with a balanced and diversified portfolio and multilateral relations, guaranteeing its own supply security and supporting supply security for neighbouring countries in the region."