Erdoğan: 135 million barrels of oil in place identified at Gabar

Turkish President Recep Tayyip Erdoğan announced that a total of 135 million barrels of oil in place had been identified at two sites in Gabar. Erdoğan said production in the region was expected to exceed 100,000 barrels a day in the second half of 2027, with around 230 wells, adding that this would contribute USD 4.4 billion a year to Türkiye’s economy.

Speaking after the Presidential Cabinet meeting on 9 November, Erdoğan said they attached importance to diversifying energy sources in order to meet energy demand at secure and stable costs. He identified bringing domestic oil and natural gas resources into production as one of the main elements of this approach.

Production target set for the second half of 2027

The figures announced for the two new sites at Gabar were described as oil-in-place potential. No details were provided on how much oil could be extracted from these sites, the size of each site individually or the investment required to bring them into production.

The timeline Erdoğan gave envisages increasing daily production in the region through around 230 wells. The stated annual economic contribution of USD 4.4 billion was also cited alongside the target of exceeding 100,000 barrels a day. No separate production timetable was announced for the new sites.

Capacity increase also targeted for Black Sea gas

In his remarks on natural gas production, Erdoğan said gas supplied from the Black Sea was meeting the needs of 4 million households. He said the Osmangazi vessel would increase this number to 8 million households. He presented the oil and natural gas announcements as part of investments aimed at bringing domestic resources into the economy.