Melih Khan Bilgin, CEO of the Turkish Oil Company, said the value of new oil fields in Turkey’s southeast is estimated at $70 billion.
Bilgin added: “The potential of the new field is estimated at one billion barrels.”
He stressed that the oil previously discovered in Turkey is of low quality, while the oil from the new field is of good quality. “Arab” quality And very clean.”
Bilgin said the field would generate $3 billion in annual revenue. According to him, within two years it is planned to reach the production level of 100,000 barrels per day.
Earlier, Turkish President Recep Tayyip Erdogan announced the discovery of an oil field with a capacity of 100,000 barrels per day in Judi Gabar, in the state of Shirnak, in the southeast of the country.
Erdogan pointed out that the name of the school, Ipoka Yalgin, was named after an oil well discovered in Jebel Gabar, a school that Ankara accuses PKK militants of killing in 2017.
The Turkish President said that the oil is located at a depth of 2.6 kilometers, and this field will allow to extract more oil than is currently produced in the country.
Source: News
