Turkey's President Recep Tayyip Erdogan announced on Monday that a new oil field has been discovered in the Sirnak province in the northeast of the country.
The oil field contains an estimated 150 million barrels of net oil reserves, which have a value of approximately $12 billion, he said.
Erdogan praised Turkish Petroleum's efforts to accelerate its exploration and production activities, adding 71 million barrels to its current reserve with 34 new discoveries in 2021 alone.
The discovered field is "one of the 10 largest discoveries made onshore in 2022," Erdogan said. With this new discovery, Turkey's goal is to increase its oil production to 100,000 barrels per day.
