Turkey announces $30-billion Black Sea gas discovery

Turkey

ISTANBUL, May 19, 2025 – Turkey has discovered 75 bcm (2.6 tcf) of natural gas in the Black Sea valued at USD 30 billion, President Recep Tayyip Erdoğan said on Saturday.

The new reserve was located at the Goktepe-3 well, situated 69 kilometres west of the Sakarya gasfield and 165 kilometres offshore, following 49 days of drilling by the high-tech vessel Abdulhamid Han. The well lies at a depth of 3,500 metres, and exploration began on March 27. The discovery, officially announced on May 16, is expected to meet the country’s residential natural gas demand for three and a half years.

“With this discovery, we will meet the natural gas needs of homes in Turkey for 3.5 years,” President Erdoğan said during an event in Istanbul. The country has a population of around 85 million.

“We will continue exploration until we achieve our goal of complete energy independence.”

The announcement underscores Turkey’s ambition to solidify its position as a regional energy hub. A similar major find occurred in 2020, when the country uncovered a 320 billion cubic metre reserve, then the largest-ever Black Sea discovery.

Turkish Petroleum Corporation (TPAO), the state-owned oil and gas explorer and producer, leads upstream operations in the Black Sea. TPAO engages in seismic exploration, drilling and production activities across Türkiye and has expanded its role in offshore hydrocarbons development in recent years.

Photo courtesy of the Turkish Presidency