14th Hydrocarbon Exploration-Production Sector Consultation Meeting

14th Hydrocarbon Exploration & Production Consultation Meeting was held on December 22, 2022 with the participation of sector stakeholders, especially Minister of Energy and Natural Resources Mr. Fatih Dönmez. At the meeting, the companies operating in the Exploration - Production Sector have found the opportunity to consult with notably Mr. Fatih Dönmez and the relevant Decision Makers about the problems they have encountered and discussed the solution proposals. Minister of Energy and Natural Resources; Fatih Dönmez stated that in the first 10 months of 2022, crude oil production reached 20,6 million barrels and natural gas production reached 326,6 bcm. Mr. Fatih Dönmez underlined that domestic oil production has reached 80 thousand barrels per day, together with the private and public sectors. Dönmez added that as public and private sectors they put the target of 100 thousand barrels per day of domestic oil production among their 2023 targets. Dönmez also stated that in the 10-month period of 2022, approximately 5 billion TL were obtained in royalty income, thus reaching the highest amount to date. PETFORM Chairperson Mrs. Ayşe Cesur remarked that without making any distinction between public and private companies, intensive work was carried out in the field in 2022, and field activities increased with the opportunities available. Mrs. Cesur emphasized that with new discoveries the interest of domestic and foreign investors in the Turkish EP sector will be more focused and in the coming period new reserves will be brought to our country’s economy by making more exploration and production investments. Cesur stated that as an Association, besides oil and gas exploration-production activities, studies are also continuing for the development of the natural gas market. Cesur also underlined that in the current international conjuncture, they are taking firm steps towards the goal of becoming a natural gas trade center, which has been expressed by PETFORM for a long time.