The quantity of recoverable oil from the Çukurova field in the southern Adana province is expected to reach up to 8 million barrels, Turkey’s Energy Minister Fatih Dönmez said on Thursday.
Dönmez’s remarks came during a visit to the field where President Recep Tayyip Erdoğan announced Turkey had discovered $1 billion worth of oil reserves on June 28.
As the Çukurova-1 and Çukurova-2 wells are the shallowest in the country, at a depth of 430 meters (1411 feet) and 358 meters, respectively, both investment and production costs will be very low, Dönmez explained.
The daily average output from these wells at the early stage of development is 100-120 barrels, but the minister said the forecast when developed is for around 7.5 million-8 million barrels of oil from this field, the value of which is approximately $1 billion.
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