Turkey hits a significant oil find near Syria

Turkish Petroleum (TPAO) has discovered the country’s largest oil find in the southeast of Turkey, the Turkish NOC announced on Wednesday.

The Şehit Aybüke Yalçın-1 exploration well hit 162 metres of hydrocarbons-bearing rock at depths of 2,600 metres to 2,770 metres.

The find is located in the southeast province of Şırnak near the border with Syria and is estimated to contain 1 billion barrels of oil.

The well is adjacent to existing finds on the Şehit Esma Çevik field.

Plans to develop the concession include a round of appraisal wells with full-field development expected by the end of 2023.

According to TPAO, the finds together could produce 100,000 bopd, twice Turkey’s current production level.

In 2022, Turkey imported 246 million barrels of oil to meet its energy demand, with 29 million barrels produced locally.

In December 2022, President Tayyip Erdogan revised its discovered gas resources in the Black Sea to 710 bcm (25.1 tcf) following finds at a new gasfield, which it is currently developing.