$1bn oil reserves discovered in Turkey

In the Turkish city of Adana, oil was found in two wells, the reserves of which are estimated at $1 billion, President Recep Tayyip Erdogan said on June 27, addressing the people after a meeting of the Cabinet of Ministers.

“Two wells in Adana, where exploration work is being carried out, have found high-quality oil. The value of the reserves is estimated at about $1 billion,” Erdogan said.

Touching upon the current economic situation in Turkey, the Turkish leader asked the people for a little patience. “We will significantly reduce the inflation rate by February-March 2023,” the President assured.

Caspian Barrel