Turkey to raise estimate of gas haul from Black Sea discovery: report

New guidance may be issued on the Tuna-1 find as early as next week, according to a report.

1 min read

10 October, 2020

Turkey may send a second drillship to the region next year [Getty/ Archive]

Turkey is likely to revise the estimated amount of natural gas from its recent discovery in the Black Sea, according to a report on Friday.

Ankara is expected to issue new guidance on the gas discovery as early as next week, according to sources familiar with the matter cited by Bloomberg.

The new guidance will come after exploratory drilling is completed this month, the unnamed sources added.

A senior Turkish energy official said last month that the the Tuna-1 discovery would penetrate two additional formations, with a second drill ship likely to be moved to the area next year.

Turkish President Recep Tayyip Erdogan announced the discovery of 320-billion-cubic-metres of natural gas in the Black Sea in August. The discovery has been touted as the biggest in Turkey's history.

Erdogan hailed the find as marking the start of a new era for Turkey.

Read more: Is Turkey's new gas discovery a game changer?

"My Lord has opened the door to unprecedented wealth for us," he enthused at the time.

The energy discovery will provide much-needed relief for Turkey, which currently imports nearly all of its 50 billion cubic meters consumed annually.

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