Posted by meb at February 27th, 2009

The Turkish Petroleum Corporation (TPAO) has said they have discovered rich oil reserves during their oil exploration in the southeastern province of Diyarbakır.

According to TPAO, the recently discovered reserves are the largest oil reserves ever found in Turkey. The reserves in Diyarbakır’s TaÅŸtan village are predicted to amount to 16 million barrels of crude oil. TPAO General Manager Mehmet Uysal, on a visit to the region on Friday, confirmed that the news was accurate. Uysal said half of these 16 million barrels would go to TPAO and the other half to Perenco — a French oil company operating in Turkey. “If you consider the fact that Turkey consumes around 200 million barrels of oil per year, 16 million may sound very small, but this is the largest amount of oil ever found in Turkey,” he noted, adding that TPAO would use the money earned from the Diyarbakır reserves to fund further oil exploration. Noting that they have already started drilling for oil in 20 wells in the Diyarbakır region, he said they planned to start exploring for oil in 16 other sites in the vicinity, including the Cudi Mountain area, later this year. He said they were working hard to meet as much of Turkey’s oil and natural gas demand as possible through local sources. The TPAO head said he believed there was great potential in Diyarbakır and the surrounding region in terms of oil reserves and that they hoped to find new sources through further exploration. The TPAO produces 30,000 barrels of oil a day in Turkey.
source: Today’s Zaman