ISTANBUL, Oct 18 (Reuters): Turkey has raised the estimated reserves in a gas field off its Black Sea coast to 405 billion cubic metres after finding an additional 85 billion cubic metres, President Tayyip Erdogan said on Saturday.
Erdogan said in August the field contained 320 billion cubic metres of gas, making it Turkey's biggest natural gas discovery.
The Fatih drill ship made the discovery about 100 nautical miles north of the Turkish coast. Even before Saturday's revision, analysts had said that the find represents a major discovery and was one of the largest global discoveries in 2020.
"Work in this borehole has been completed after reaching a depth of 4,775 metres as planned previously," Erdogan said, speaking onboard the Fatih.
He said the vessel would start new operations in a different borehole in the same field, called Sakarya, next month after returning to port for maintenance. Another ship, called Kanuni, is also headed to the Black Sea for drilling operations, he said.
If the gas can be commercially extracted, the discovery could transform Turkey's dependence on Russia, Iran and Azerbaijan for energy imports. Turkey expects the first gas flow from field in 2023. One source close to the matter said an annual gas flow of 15 billion cubic metres was envisaged from 2025.
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