Turkey aims for 100,000 barrels of daily oil from Gabar

Turkey's Minister of Energy and Natural Resources, Alparslan Bayraktar, announced that oil production in the Gabar region is expected to exceed 100,000 barrels per day by 2027. Currently, the region produces approximately 85,000 barrels daily using high-quality domestic oil.

Bayraktar outlined several strategic goals for Turkey's energy sector, including meeting rising demand, reducing foreign dependency, and achieving climate targets. The government aims to source 70 percent of its energy needs from renewable resources, such as solar, wind, hydroelectric, and geothermal energy, by 2040. Additionally, a 20 billion dollar investment in energy efficiency is targeted for the 2024-2030 period.

Addressing global instability, the Minister noted that the energy and security architecture of the world is being reshaped by various crises, including the Russia-Ukraine war, trade disputes, and conflicts in Gaza and the Middle East.