Turkey Begins New Phase of Gas Exploration in the Black Sea

Turkey has commenced a new phase of natural gas exploration drilling operations in the Black Sea, according to TASS. The "Fatih" vessel has initiated its third exploratory drilling in the Black Sea at the Sakarya field. The work is being conducted at a depth of 5,000 meters and will last for 2.5 months, tweeted Turkey's Minister of Natural Resources and Energy, Fatih Donmez.

On August 21, 2020, Turkish President Recep Tayyip Erdoğan announced the discovery of a significant natural gas field close to the shores of Sakarya province. Soon, as Erdoğan stated, authorities will address the technical issues related to gas extraction from this field and will begin drilling immediately. At that time, the market value of the new gas reserves was initially estimated to be around $180 billion.

The Turkish company Turkiye Petrolleri plans to carry out 40 drillings in the Sakarya field, where the gas reserves are estimated at 540 billion cubic meters. Turkey intends to conduct these developments independently, without the involvement of foreign companies.