Latest news with #AlparslanBayraktar
Libya Observer
2 days ago
- Business
- Libya Observer
Libyan and Turkish energy ministers discuss expanding oil and gas cooperation
Libya's Minister of Oil and Gas, Khalifa Abdel Sadek, held talks with his Turkish counterpart, Minister of Energy and Natural Resources Alparslan Bayraktar, to explore avenues for strengthening bilateral cooperation in the energy sector. According to the Libyan Ministry of Oil and Gas, the meeting, held in Istanbul, focused on opportunities for collaboration in offshore and onshore oil and gas exploration, as well as the rehabilitation and development of oil and gas fields. The two sides also discussed the potential role of Turkish companies in hydrocarbon projects and infrastructure development within Libya's energy sector. The talks highlighted the importance of knowledge exchange and learning from Turkey's experience in the field, with the aim of achieving mutual benefits and supporting the stability and growth of Libya's energy sector. The ministry emphasized that the meeting is part of ongoing efforts to boost regional and international partnerships, supporting energy transition and sustainability goals. Tags: Minister of Oil and Gas Turkey
Bloomberg
5 days ago
- Business
- Bloomberg
Saudi Arabia's Acwa Nears First Deal in $5 Billion Turkey Push
Saudi Arabia's ACWA Power Co. will build two large-scale solar plants in Turkey under a deal expected within days, the first concrete step in its plan to invest billions of dollars in the country's energy sector. Acwa and Turkish officials are finalizing a contract for two 1-gigawatt plants in the Karaman and Sivas provinces, Turkish Energy Minister Alparslan Bayraktar said in an interview on Tuesday. The two sides are also in talks over an additional 3 gigawatts of renewables capacity, he said.
Reuters
17-06-2025
- Business
- Reuters
Turkey expects no issues with oil and gas supply amid Israel-Iran conflict
ANKARA, June 17 (Reuters) - Turkey expects there to be no issues with oil and gas supply for its domestic demand amid the conflict between Israel and Iran, though energy prices could continue to rise, Energy Minister Alparslan Bayraktar said. Speaking to reporters late on Monday, Bayraktar said that Turkey would need to replace Gulf crude oil - 20% of Turkey's overall supply - in case of a possible blocking of shipping through the Strait of Hormuz. But Ankara does not expect any problems on its supply security for oil and natural gas, he added.
Qatar Tribune
03-06-2025
- Business
- Qatar Tribune
Turkey's TPAO joins major Azeri gas field project
Agencies Turkey's state energy company TPAO is joining a major natural gas field off Azerbaijan as a partner, in a deal that will mark a new chapter in bilateral cooperation, Energy and Natural Resources Minister Alparslan Bayraktar announced on Monday. The gas production-sharing agreement will be signed between TPAO, Azerbaijan's SOCAR and British energy giant BP on Tuesday and covers the Shafag-Asiman offshore block in the Caspian Sea, Bayraktar told the Baku Energy Week conference. He described the partnership between Turkey and Azerbaijan as a 'strategic energy alliance built on deep-rooted history, shared culture and a common vision' and said the new deal would enhance joint production in Azerbaijan. The Shafag-Asiman offshore block has long been viewed as a promising site for hydrocarbon exploration. It is 125 kilometres (78 miles) southeast of Baku and at a depth of 650-800 metres, according to SOCAR's website. The first exploration well was drilled in 2020. 'Hopefully, we will finalize the agreement here. We have acquired a 30 percent stake. Our partners are SOCAR and BP. We hope to begin production at this field,' Bayraktar told reporters on the sidelines of the conference. In a message sent to the opening ceremony of the event, President Recep Tayyip Erdoğan reaffirmed Turkey's commitment to deepening energy cooperation with Azerbaijan, calling their joint projects a key to regional and European energy security. Erdogan praised the enduring partnership between Ankara and Baku, which he said has been crowned with joint infrastructure projects such as the Baku-Tbilisi-Ceyhan (BTC), Baku-Tbilisi-Erzurum pipelines, and the Trans-Anatolian Natural Gas Pipeline (TANAP). 'Our collaboration not only benefits Turkey and Azerbaijan but also continues to make significant contributions to the energy security of the region and Europe,' said thepresident. On the sidelines of the event, Bayraktar held a meeting with Azerbaijani President Ilham Aliyev, which he described as productive, focusing on expanding cooperation across various energy domains. 'TPAO's presence in Azerbaijan is growing. We're also discussing collaboration on additional fields and will continue to ramp up our activity in the Caspian Sea,' he said. Bayraktar echoed Erdoğan's view that Turkish-Azerbaijani energy projects contribute to Europe's energy security. 'In the coming period, we anticipate new developments regarding projects that aim to deliver gas to Europe from alternative and additional sources,' he said. He also highlighted Azerbaijan's increasing investments in renewables and revealed plans for cross-border clean energy infrastructure. 'In the period ahead, we will develop projects for generating renewable energy in Nakhchivan and transporting it to Turkey, and through Turkey on to Europe,' he added. The remarks come at a time of rising global energy uncertainty driven by geopolitical conflicts, aging infrastructure and market volatility.
Yahoo
23-05-2025
- Business
- Yahoo
Türkiye announces estimated 6.1bbbl shale oil reserve
Turkiye's Energy Minister Alparslan Bayraktar has announced that US oil producer Continental Resources has estimated a shale oil reserve of around 6.1 billion barrels (bbbl) in the country's south-eastern Diyarbakir Basin, according to a Reuters report. This figure could position Türkiye in the global oil market above some OPEC countries. Bayraktar emphasised the importance of the discovery, considering Türkiye's current annual crude oil imports are approximately 365 million barrels (mbbl). Türkiye, which relies on imports for more than 90% of its energy needs, is actively seeking to reduce its import bill and enhance supply security through the development of domestic resources and international exploration partnerships. 'If confirmed, these reserves would elevate Türkiye above some OPEC members such as Congo or Gabon, and other major producers like the UK,' Bayraktar stated during a visit to Sirnak province. In March, Continental Resources and Turkish national oil company TPAO signed an agreement to develop shale fields in the Diyarbakır Basin. The Energy Minister previously described the March agreement as "a new era," indicating Türkiye's strategic focus on shale oil and gas discoveries. The country is aiming to commence shale gas production in the north-western Thrace region. Continental Resources has not provided comments on the estimation. The announcement comes shortly after President Tayyip Erdogan's revelation of a new 75 billion cubic metres (bcm) natural gas reserve found during drilling in the Black Sea. The country previously announced its largest-ever onshore oil discovery of 1bbbl of crude in Sirnak two years ahead of the presidential elections. The discovered oil had an API gravity of 41, indicating a lighter grade than Türkiye's existing production. In 2024, Türkiye's crude production stood at 127,000 barrels per day, with imports nearly reaching 1mbbl per day of oil and refined products. Data from the country's Energy Ministry and regulator revealed that discounted Russian oil and refined products constituted two-thirds of Türkiye's imports last year. "Türkiye announces estimated 6.1bbbl shale oil reserve" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
