Turkey Looks to Expand Oil and Gas Exploration in Its Region

Turkey Looks to Expand Oil and Gas Exploration in Its Region | OilPrice.com

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Breaking News:

ByTsvetana Paraskova– Apr 21, 2025, 6:30 AM CDT

Turkey is boosting domestic natural gas production in its Black Sea waters and is looking to expand its international partnerships in oil and gas exploration in Bulgaria’s Black Sea, in the Caspian Sea region, and in Iraq, Turkish Energy and Natural Resources Minister, Alparslan Bayraktar, said on Monday.

Turkish state energy firm TPAO and an international oil firm are negotiating a deal for oil and gas exploration in the Black Sea block off the coast of Bulgaria, Turkey’s neighbor to the northwest.

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“Most likely next month, TPAO and a foreign company will sign a deal for a block in Bulgarian waters,” Reuters quoted Minister Bayraktar as saying.

Turkey also explores opportunities for international cooperation in oil and gas exploration in Azerbaijan and other Caspian Sea areas, and potential new field exploration in northern and southern Iraq, according to the Turkish energy minister.

Earlier this month, Turkey signed an agreement with Pakistan to jointly explore and potentially develop oil and gas resources offshore Pakistan. TPAO and Pakistan’s three national oil companies will make joint bids for some blocks in this year’s tender for 40 offshore blocks in Pakistan, Turkey’s Energy Ministry said.

While Turkey looks to boost its international presence in oil and gas exploration, the country has just completed phase one development at the Sakarya Gas Field in its Black Sea waters.

Turkey has been boosting natural gas production from its Black Sea operations, where massive gas reserves have been found in recent years.

At Sakarya, daily gas production is now around 9.5 million cubic meters, which provides gas and energy to about 4 million Turkish households.

A floating production platform at Sakarya is expected to double gas production in 2026, the energy ministry said on Monday.

In 2028, daily production is expected to increase to 40 million cubic meters and the natural gas needs of all households will be met from the Sakarya Gas Field, the ministry noted.

By Tsvetana Paraskova for Oilprice.com

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