Turkey Has Discovered Billions Of Dollars' Worth Of Oil

New deposits will help the country reduce its dependence on imports.

Turkish President Recep Tayyip Erdoğan announced late Monday evening the discovery of two new oil fields in the southeastern part of the country.

This was reported by "European Truth".

Erdogan wrote on social media platform X that, thanks to the new wells, oil production in the Gabar region will increase by 30%. This will allow production to exceed 100,000 barrels per day in the second half of 2027.

“Good news continues to come from the Gabar Mountains. We have discovered oil at two more new fields in this region—fields we have named ‘Gaziler’ and ‘Chardakli’—and production there began as early as October,” Erdogan noted.

According to him, with production at 120,000 barrels per day, the additional revenue for the economy will amount to $4.4 billion per year.

This announcement came on the first day of negotiations at the COP31 climate summit, where participants gathered to discuss global efforts to curb global warming.

Critics consider Turkey’s climate policy to be insufficiently effective, pointing to continued investments in fossil fuels and doubts regarding the country’s ability to meet its climate commitments.

Turkey is almost entirely dependent on energy imports. The country consumes about 1 million barrels of oil per day, approximately 90% of which it imports. Ankara aims to reduce its daily oil demand by about 30% by 2040.

Last November, it was reported that Turkey’s largest oil refineries had begun purchasing more non-Russian oil in response to the latest Western sanctions against Russia.

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