The economic value of the recently discovered natural gas reserve in the Black Sea comes to nearly $65 billion, Turkey’s energy and natural resources minister said Friday, the Daily Sabah reported.

Fatih Donmez’s remarks came after Turkey earlier announced its biggest ever natural gas discovery, a 320 billion cubic meter Black Sea field, which President Recep Tayyip Erdogan said was a part of even bigger reserves and could come onstream as soon as 2023.

“In the upcoming period, we will perform seismic research and drilling by ourselves,” the minister said.

The government plans to launch procurement from the field by 2023.