Turkey looks to regional energy expansion as Black Sea Gas output increases

Alparslan bayraktar, the Energy Minister, said that the daily production of natural gas in Turkey's flagship Sakarya Field, located on the Black Sea, has reached 9.5 million cubic meters. The country is ramping up its energy ambitions at home as well as abroad.

Bayraktar, a Turkish minister of energy, told reporters in Giresun province that the country aims to sign an agreement by the end of the month allowing TPAO to explore a Black Sea bloc off the coasts of Bulgaria and a foreign partner.

"We're about to finalize an agreement in the Bulgarian Economic Zone." He said that TPAO will likely sign a contract with a foreign firm for a bloc in Bulgarian waters next month.

Calculations show that the new Sakarya gas field contributed about 6.6% to Turkey's 53 Bcm gas consumption in 2013.

Turkey, which imports 90% of its energy, is working to reduce its import bill, and increase supply security, by developing its domestic resources and expanding partnerships with international oil and gas exploration companies.

Bayraktar stated that Turkey is interested in two offshore fields, including Azerbaijan and new fields both in northern and southern Iraq.

The collection of seismic data in Somalia is expected to be completed by the end May. A decision on drilling will likely come by the year's end.

Bayraktar reported that Turkey added three new onshore blocks in addition to its offshore licenses in Horn of Africa nation.

The offshore seismic survey in Somalia will be finished by the end of May. He said that by the end of this year, we would make a decision about drilling.

TPAO and Pakistani companies have also signed agreements to bid jointly for exploration licenses off Pakistan. Ankara, which recently began importing Turkmenistan's natural gas, is looking to form partnerships to develop the oil and gas fields of Turkmenistan. (Written by Ece Toksabay, edited by Can Sezer and Jonathan Spicer).

(source: Reuters)