Energy Statements from Minister Bayraktar: Osman Gazi Facility and Production Targets

Minister of Energy and Natural Resources Alparslan Bayraktar shared up-to-date information regarding Turkey's oil and natural gas production projects during a live broadcast. Bayraktar discussed the features and commissioning schedule of the Osman Gazi facility, evaluated production targets in the Black Sea, Gabar, Adıyaman, and international fields, and reviewed the latest status of the Akkuyu Nuclear Power Plant.

Minister Bayraktar stated that the Osman Gazi natural gas processing and production facility, which will operate at sea as a first in Turkish oil and natural gas production, is approximately the length of 3 football fields, 56 meters wide, and about the height of a 40-story skyscraper above the sea together with its flare stack. Expressing that the gas processed at the facility will be pumped to Filyos 170 kilometers away and delivered to homes from there, Bayraktar announced that Osman Gazi will increase production to 20 million cubic meters. It was reported that the facility will generate 10 million dollars daily and 3.5-3.6 billion dollars annually in natural gas production starting from 2027, the number of households will increase from 4 million to 8 million, and it will operate for 20 years.

It was stated that the manufacturing of the second floating production platform is ongoing, it will move to Turkey in December 2027, arrive in the first quarter of 2028, and provide an additional 25 million cubic meters of production. It was noted that 7.3 billion cubic meters of gas have been produced in Phase-1 in the Black Sea since 2023, and oil-indication drilling reaching 6,000 meters from the water surface has been conducted at the Akçabeyli well. It was added that new discoveries have been made in Adıyaman that will increase existing production by 50 percent to 15,000 barrels per day, and daily production in Gabar has reached 84,000 barrels with a target to exceed 100,000 barrels.

Stating that Turkish Petroleum has become a partner in the Kirkuk fields, Bayraktar expressed that they have acquired a 15 percent stake in the field, which is estimated to hold 3 billion barrels of reserves, and that a share will be received starting from 2027. He stated that together with the fields in Libya, seismic studies in Somalia and Pakistan, they will take Turkish Petroleum towards its target of 1 million barrels. Emphasizing that 1,090 tests have been conducted on the first reactor at the Akkuyu Nuclear Power Plant and that it is targeted to start operating by loading fuel before the end of this year, Bayraktar mentioned that negotiations are ongoing with South Korea, Canada, China, and Russia for Sinop and Thrace. Reminding that consumption limits in energy supports were lowered for the years 2025 and 2026, and that those consuming 75 percent above the average in natural gas are removed from the support group, he reported that there is no price change planned for now.