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Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced that oil production at Gabar Mountain generates $2 billion annually for the national treasury, representing Türkiye’s largest historical oil discovery.

“From there, $2 billion comes to our treasury every year. Allah willing, as production increases, it will be even more,” Bayraktar said during a ruling Justice and Development Party (AK Party) Eskisehir Provincial Advisory Council meeting.

The minister emphasized that Gabar Mountain, once associated with terrorism and violence, now produces 80,000 barrels of oil daily, contributing significantly to Türkiye’s energy independence efforts.

Energy independence strategy reduces import dependence

Bayraktar outlined Türkiye’s comprehensive approach to achieving energy independence, noting the substantial financial burden of energy imports over the past two decades.

“In the last 22 years, we paid $1 trillion for energy imports. Türkiye paid this much money abroad to import energy in 22 years,” the minister stated.

He provided context for this massive expenditure, explaining, “With this $1 trillion, we could have built 200 Ataturk Dams, not the 4 reactors we built at Akkuyu, where we turned a 70-year dream into reality, but 100 nuclear reactors, or 91 Istanbul Airports.”

Natural gas discovery transforms energy landscape

The minister highlighted Türkiye’s historic natural gas discovery, describing it as the largest in the republic’s history.

“In a very short time, we are extracting the natural gas we found there, 170 kilometers from land, where the sea depth is more than 2 kilometers (1.24 miles), and after drilling 2-2.5 kilometers (1.39 miles) on the seabed,” Bayraktar explained.

“Today, we are producing enough natural gas for 4 million households in Türkiye as our own gas,” he added, emphasizing the domestic nature of this energy source.

Gabar Mountain oil production generates $2B annually: Turkish Energy Minister

Regional economic and social transformation

Beyond economic benefits, Bayraktar emphasized the transformative impact of the Gabar project on the local population in Sirnak province.

“Although its economic value is great, now in Sirnak, in Gabar, with this project that employs 3,200 people and the projects we will develop from now on, there is hope in the eyes of the children, youth, and women of that region, expectations for life and a great future dream,” he stated.

The minister described this social transformation as potentially more valuable than the economic benefits, particularly in the context of Türkiye’s “Terror-free Türkiye” initiative.

Gabar Mountain oil production generates $2B annually: Turkish Energy Minister

Akkuyu nuclear power plant progress

Bayraktar provided updates on the Akkuyu nuclear power plant project, describing it as the largest foreign investment in the republic’s history.

“Türkiye signed an agreement with the Russian Federation in 2010. Through an intergovernmental agreement, the world’s largest nuclear power plant construction site, where 30,000 people work and where 4 reactors are being built simultaneously, continues and is rising rapidly,” he said.

The minister indicated that the first reactor will be operational soon, with all four reactors expected to be completed by 2028, providing 10 percent of Türkiye’s electricity needs.

Gabar Mountain oil production generates $2B annually: Turkish Energy Minister

Mining sector achievements and employment growth

The minister highlighted achievements in the mining sector, particularly ETI Maden’s performance as Türkiye’s most profitable company across all public and private sectors in 2024.

“ETI Maden ranked first in profitability among all companies in Türkiye, both the public and private sectors, in 2024. It made approximately $900 million in profit,” Bayraktar announced.

He noted that ETI Maden’s Seyitgazi Kirka facilities alone generate approximately $620 million in revenue while employing over 2,000 people.

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New employment opportunities and rare earth elements

Bayraktar announced significant employment expansion plans, stating, “170 people were provided with new employment here. Within this year, we will provide job opportunities and employment for 400 new colleagues at ETI Maden.”

The minister also highlighted the discovery of rare earth elements in Beylikova, describing it as the world’s second-largest reserve in a single field.

“We discovered the world’s second-largest reserve in a single field in Beylikova. Our work on its production continues. The pilot project was completed. Allah willing, we will make Türkiye one of the most important suppliers in this field in the coming period,” he stated.

The minister also emphasized government support for citizens through energy subsidies, noting that 97% of electricity subscribers receive support covering over 50% of their bills.

“Today, the support rate in the electricity bills of 97% of our electricity subscribers is still above 50%; we cover 54%. In natural gas, again, an amount above 50% is covered by the state,” Bayraktar explained.

Bayraktar lastly outlined the scale of Türkiye’s daily energy supply operations, emphasizing the critical nature of uninterrupted service.

“Every day, we have to supply fuel for 32 million vehicles, bring electricity to 42 million households 24/7, and deliver natural gas to 21 million households. There are thousands of energy workers working for this,” he stated.

June 01, 2025 10:28 AM GMT+03:00