Cross-border drilling: Hydrocarbons will be searched from Africa to the Caucasus

Minister of Energy and Natural Resources Alparslan Bayraktar stated that the work carried out in the field of hydrocarbons is not limited to the domestic market and said, “We will take part in oil and natural gas projects in Africa, the Caucasus and other geographies, especially in Iraq and Libya.”

GAS FOR 1.5 MILLION HOUSES IS FROM SAKARYA

Presenting the 2024 budget of the ministry at the Grand National Assembly of Turkey Planning and Budget Commission, Bayraktar said: “After the discovery of 710 billion cubic meters of natural gas reserves in the Sakarya Gas Field, we brought the natural gas to land and put it into use at the Filyos Natural Gas Processing Facility in less than 3 years. We have already reached a daily production of approximately 4 million cubic meters from the Sakarya Gas Field. This production meets the natural gas needs of 1.5 million households. “We offer 6.4 billion cubic meters of gas to our citizens within the scope of free natural gas application.”

20 PERCENT OF CONSUMPTION IS OUR OWN RESOURCES

Stating that 23 thousand barrels of crude oil are produced daily in the Gabar region, Bayraktar said, “Our goal is to reach 100 thousand barrels of daily production in Gabar alone by the end of 2024 and increase our total domestic production to over 200 thousand barrels per day. This means that approximately 20 percent of our consumption will be met from our own resources.” “It’s coming,” he said.

500 MILLION CUBIC METERS OF GAS ANNUALLY TO NAKHÇEVAN

Bayraktar, who also gave information about gas exports, continued his words as follows: “We have implemented gas export agreements with Bulgaria, Hungary, Romania and finally Moldova. In the coming period, we will work to add new countries to our export connections. We will work on the natural development of Nakhchivan around the common goals of the Turkey-Azerbaijan brotherhood.” “We will complete the Iğdır-Nakhchivan Natural Gas Pipeline Project for the supply of gas as soon as possible and meet the entire annual natural gas need of Nakhchivan, which is 500 million cubic meters. Our negotiations for the Sinop and Thrace nuclear power plant are continuing.”

Localization has increased in renewables

Stating that the electricity installed power has increased 3.3 times, Bayraktar said, “This power has reached 106 thousand megawatts. The domestic resource rate is at 66 percent, 55 percent of which is renewable energy. We have provided our industry with 77 percent domestic production capability in solar panels and 60 percent in wind turbines.” ” he said.

220 billion TL remained in pocket

Speaking at the commission, EMRA President Mustafa Yılmaz said: “With the Maximum Settlement Price Mechanism that we implemented for 18 months due to the global energy crisis, our supply security has not been disrupted and our citizens have been protected to the maximum extent from extraordinary cost increases. “With the AUF contribution, a 130 percent price increase in final electricity tariff bills was prevented, while an amount of 220 billion TL remained in the pockets of our citizens.”