Turkish President Recep Tayyip Erdogan announced the discovery of natural gas reserves of 58 billion cubic meters in the area of Caykum-1 in the Black Sea.
He said Turkey's gas reserves in the Black Sea increased by 170 billion cubic meters to a total of 710 billion cubic meters thanks to the new discovery at Çaykum-1. "The natural gas we discovered in the Black Sea is now valued at $1 trillion on the international market... We are determined to make Turkey the energy center of the Caspian, the Mediterranean and the Middle East. Our private and state daily oil production in the country has now reached 80,000 barrels. Next year we aim to increase production to 100 thousand barrels," he said.