Turkey has reportedly made additional natural gas discovery in the Black Sea, following drilling of the Amasra-1 well.
People familiar with the matter told Bloomberg that the Amasra-1 well’s initial data showed a ‘significant amount’ of newly discovered gas.
An announcement is likely to be made soon, the report added.
The Amasra-1 well is located close to the Tuna-1 well, where state-owned Türkiye Petrolleri Anonim Ortaklığı (TPAO) last year announced the largest gas find in the Black Sea region.
At that time, the Turkish state-owned firm said that the discovered prospect potentially holds 11 trillion cubic feet of gas based on the detailed data collected from the well and geophysical studies.
The Tuna-1 well is located in the Sakarya Block (AR/TPO/KD/C26-C27-D26-D27), 175km off the coast of Ereğli, Turkey.
Officials were cited by the news agency as saying that TPAO intends to develop the deposits on its own and would not require foreign financing.
Turkey President Recep Tayyip Erdogan during a televised interview earlier this week said that the country promises to deliver ‘good news’ from the Black Sea.
Earlier this year, Bloomberg reported that TPAO is seeking partners to develop the Sakarya gas field in the Black Sea.
However, the company plans to develop the project alone in the event negotiations do not result in the formation of project ventures.
Turkey, which currently imports most of its 50 billion cubic metres of annual gas demand, has increased offshore oil and gas exploration activities in recent years.
According to officials, inland production would increase gas demand in the country to as much as 80 billion cubic metres per year by the end of this decade.