New large oil field discovered in Türkiye

A new oil field has been discovered in the southeast of Türkiye in the regions bordering Iraq. Its potential may be five times greater than the reserves of the Gabar deposit in the Shirnak province in the same region, which is considered the largest in the country, Report informs via TASS.

According to the publication, preliminary exploration of the field in the area of Mount Kato, located between the provinces of Shirnak and Hakkari, has already begun. According to the newspaper, the quality of the discovered oil can be compared with the Arabian oil, that is, the most expensive in the world and with minimal impurities.

Turkish President Recep Tayyip Erdogan announced in early May the discovery of an oil field near the Gabar mountain range with a capacity of about 100,000 barrels per day. Its potential is estimated at 1 billion barrels, and the cost of reserves is about $70 billion.

In recent years, Türkiye has stepped up exploration of gas and oil fields on its territory, as well as in the Black Sea and the Eastern Mediterranean.