“There is a natural gas finding in the Tuna 1 well”, a Turkish official told Reuters

News Agencies – Two Turkish sources said Turkey has found significant gas resources in the Black Sea.

According to the information disclosed, natural gas was discovered in the Tuna 1 well in the Black Sea. “Expected reserves is 800 billion cubic meters, which will to meet the natural gas needs of Turkey for approximately 20 years,”. To start production could take between 7 and 10 years, and estimated investment costs at between $2 billion and $3 billion.

On Wednesday, Bloomberg news agency reported that Turkey has discovered energy resources in the Black Sea. President Recep Tayyip Erdogan said that “good news” will be announced on Friday and that would usher in a new era.

*This is a developing story