Update: 13:12, 05 March 2009 Thursday
Official: Black sea oil can meet Turkey's need for next 40 years
TPAO director General Mehmet Uysal gave information about Turkey`s oil search.
World Bulletin / News Desk
Turkish Petroleum Corporation (TPAO) director general said, "there is oil in the Black Sea that will meet Turkey's need for oil for the next 40 years and may fill 10 billion barrels."
TPAO director General Mehmet Uysal gave information about Turkey`s oil search. He stated that Turkey will pay 600 billion dollars to crude oil until 2023 and oil rezerves that was explored in Black Sea gave them hope for future.
Uysal said the potantial in Black Sea is comperable to the Caspian Sea reserves. "There is oil in the Black Sea that may fill 10 billion barrels, also 1.5 trillion cubic meters natural gas reserves", he said.
Head of the TPAO said they also continue searching Mediterrian and Agean Sea. TPAO estimates that most of the 500 million cubic meter natural gas production in Turkey was done in the west of the Black Sea.
Uysal said there is enough oil in Kazakhistan and Azerbaijan for Turkey`s next 2 years and TPAO will open 5 oil wells in Kazakhistan between 2009-2011.
"We invested 270 million dolars in the region and the result was worth our investment" said Uysal and expressed that there is more reserves in the region that may worth 100 million dolars.
TPAO director general spoke hopefully about the future of Turkey`s energy situation: "After 2023, Turkey will not be a country that imports oil and natural gas. We need an effective petrolium company. It is possible to reach the goal of being an energy independent country.
The largest oil reserves in Diyarbakir
Turkey's largest oil reserves has been found Turkish Petroleum Corporation (TPAO) in Diyarbakir.
TPAO says oil in Diyarbakir is not too much but is considered to be producible reserves
TPAO`s work provide results and Diyarbakır became an oil rich city.
According to the information received from TPAO, in Diyarbakir`s Tastan village, approximately 16 million barrels oil has been found in the 1800 meters depth.
Turkey's annual consumption of oil is about 200 million barrels.Therefore, 16 million barrels of oil is considered as not very large amounts, but can be produced.
Half of Turkey's largest oil reserves will go to the French partners and the other half will stay in Turkey.
Moreover, in the same region, TPAO continues oil production in 20 wells. This year, the company plans to search for oil in 16 different areas near the Mount Cudi.
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