Turkey's Energy Minister says there may be large shale oil reserves in the country

Energy Minister Alparslan Bayraktar divulged the finding of shale oil deposits in southeastern Turkey. Estimates from American Continental Resources suggest that the reserves in this field could reach up to 6.1 billion barrels. 

If these stockpiles are validated, Turkey may emerge as a leading oil producer, surpassing some OPEC nations, Reuters reports. The country usually imports 365 million barrels of fuel each year, while its domestic production averages 127,000 barrels per day. This reliance on foreign suppliers has prompted the government to prioritize developing local resources.

As part of its energy independence strategy, Turkey partnered with Continental Resources to jointly develop oil fields with the national company TPAO. The collaboration is particularly focused on shale oil and gas projects, which experts believe are key to transforming the country's energy landscape.

Last week, Turkish President Recep Tayyip Erdogan also announced the discovery of a new gas field in the Black Sea. Drilling operations revealed its estimated reserves of 75 billion cubic meters.