Turkey to Raise Estimates on Black Sea Discovery

Turkey is likely to raise the estimated amount of natural gas from its recent discovery in the Black Sea, Bloomberg reported on Friday, citing sources familiar with the matter.
Ankara may issue a new guidance on the discovery as early as next week, Bloomberg said, after the completion of exploratory drilling this month.
Turkey announced in August a discovery of 320 billion cubic metres of natural gas reserves, heralded by Ankara as being crucial in decreasing the country’s energy import dependency, which totalled $41 billion last year.
The country hopes to begin natural gas production by 2023, but experts have cast doubt over the commercial viability of the project.
The Fatih drill ship located the gas in the Tuna-1 field, which would penetrate two additional formations, Bloomberg cited a senior Turkish energy official as saying last month.
Fatih had been carrying out exploration operations in the Tuna-1 sector located between the western Black Sea for a month ahead of Ankara’s August gas find announcement.
Earlier this month, Turkey announced that it was deploying a third drill ship as part of its search for hydrocarbons in the waters.

About Parvin Faghfouri Azar

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