On Saturday, President Tayyip Erdogan announced the discovery of a 75 billion cubic meter (bcm) natural gas reserve in the Black Sea, uncovered during drilling operations. The find, located in the Goktepe-3 well at a depth of 3,500 meters, holds an estimated economic value of approximately $30 billion.

TIRANA, ALBANIA - MAY 16: Turkey's President Tayyip Erdogan looks on at the beginning of the EPC Summit on May 16, 2025 in Tirana, Albania.

"This discovery will meet the natural gas needs of homes in Turkey for 3.5 years," Erdogan stated at an event in Istanbul.

The Sakarya field, Turkey’s primary natural gas production site in the Black Sea, currently yields about 9.5 million cubic meters daily. This output supports Turkey’s efforts to enhance its energy security and reduce reliance on imported energy, which accounts for over 90% of its needs.

To address its energy demands, Turkey is focusing on developing domestic resources and strengthening international collaborations in oil and gas exploration. These initiatives aim to lower import costs and ensure a stable energy supply for the country.

The new reserve marks a significant step in Turkey’s ongoing strategy to bolster its energy sector while meeting domestic consumption needs through sustainable and locally sourced solutions.