Ankara: According to President Recep Tayyip Erdogan, Turkey has found a new 58 billion cubic metre (bcm) natural gas reservoir in the Black Sea, bringing its overall reserve in the waterway to 710 bcm.
Erdogan stated at a press conference following a cabinet meeting that in addition to the new finding in the Caycuma-1 field at a depth of 3,023 metres, the estimated volume of the Sakarya field was revised from 540 bcm to 652 bcm, increasing the total gas reserve.
"Our new discovery will open the door to similar discoveries in other geological fields adjacent to the region. We will start new drilling as soon as possible," the president said, adding the market value of Turkey's gas reserve in the Black Sea now hits $1 trillion.
The Turkish government will also focus on exploration activities in the Mediterranean, as Turkey's ultimate goal is to achieve oil and gas independence, Erdogan noted.
"We are determined to make Turkey the energy centre of the Caspian, the Mediterranean and the Middle East," he said.
Earlier, Turkish Energy and Natural Resources Minister Fatih Donmez said the government plans to pump gas from its reserves in the Black Sea to its national grid in the first quarter of 2023.
Turkey is heavily reliant on energy imports from Russia, Azerbaijan and Iran.
With inputs from IANS