5th Black Sea Oil and Gas Conference
E&P and Natural Gas Market Specialist Mr. Gökhan SORUŞ has attended the 5th Black Sea Oil and Gas Conference and made a presentation to show the parameters of E&P Sector in Turkey.
The fifth of the Black Sea Oil and Gas Conference, held regularly every year, took place in Bucharest, Romania, on 25-26 October. The company participated in the conference as well as companies and public institutions in the Black Sea region as well as companies interested in the region.
PETFORM E&P and Natural Gas Market Specialist Mr. SORUS made a presentation for the parameter of E&P sector in Turkey. He carried out that Turkey's 129 million tons of oil equivalent of oil in primary energy supply is in third place with 28.5% of the country's total primary energy demand and stating that the 61.7% met by oil and natural gas promises. Mr. Soruş added Turkey's demand for energy among all OECD countries in in the first place in the increase stated. Turkey has realized thanks to the activities of the Exploration and Production sector, 2004 to 30.2 million tonnes of domestic crude oil in 2016, he said that 9.1 billion cubic meters of natural gas production is carried out.
In order to contribute to someone's strategy to become Turkey's energy trading center of the main recommendations of the prepared industry reports by PETFORM E&P Sector to be strengthened within the framework of liberal market conditions, of which stated by Mr. Soruş, Turkey's interior basins in this context, the Black Sea and the Mediterranean offshore on behalf of the discovery's potential in the field of domestic and to encourage foreign investors opting to work and Turkey Ministry of Economy said that there is a serious potential for foreign investors in Turkey.
Mr. Soruş’ presentation of the final chapter in the E&P Sector in Turkey prepared by PETFORM made within the SWOT analysis of the exploration sector was shared with the participants. Turkey the size of the exploration-production sector of the national economy, to find domestic crude oil and gas in the domestic market itself to comfortably consuming, decisions on matters such as the vision of being the recipient of the energy trading center is strong, however, is low by international markets of oil and natural gas prices and fluctuations in exchange rates quickly said that such issues created fragility in the sector.