Turkish President Recep Tayyip Erdoğan announced the discovery of a field with 150 million barrels of net oil reserves estimated at $12 billion in southeastern Turkey.

Earlier, Erdoğan announced “good news” on oil exploration inside the country.

“Turkey has discovered 150 million barrels of net oil reserves near Mount Gabar (Şırnak Province in the southeast of the country),” Erdoğan said. “The value of the reserves is about $12 billion.”

According to the president, the field is “one of the 10 largest onshore discoveries made in 2022.”

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