Eco
Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar, stated that Syria requires substantial investments and emphasized that Turkey does not view the potential reactivation of the Kirkuk–Baniyas oil pipeline between Iraq and Syria as a threat. This was expressed during a meeting with representatives of international media institutions and foreign-language media at Istanbul Financial Center on Friday. Bayraktar highlighted that energy and mining sectors can serve as tools to achieve peace and prosperity, stressing the need for cooperation to enhance stability in Syria and the broader region. He also noted that the crude oil pipeline between Iraq and Turkey has never been utilized at full capacity, and Turkey has been proposing for years to extend the line to Basra. He added that Turkey proposes to increase the capacity of its oil route with Iraq from 1.5 million to 2.5 million barrels per day. He explained that the "National Energy Vision 2040" aims for a transition focusing on electricity, reducing Turkey's expected daily crude oil needs in 2040 from 1.2 million barrels to about 720,000 barrels, while maintaining gas consumption at 57 billion cubic meters instead of 77 billion. Bayraktar pointed out that the Turkish Petroleum Corporation will intensify operations in the Black Sea and Mediterranean, continue exploration at the Gabar site in Şırnak province and other parts of southeastern Anatolia, alongside external expansion through partnerships and acquisitions. He mentioned Turkey's goal to expand the Turkish Petroleum Corporation's activities abroad, noting that the seismic survey vessel "Oruç Reis" is currently heading to the coasts of Pakistan. He confirmed ongoing drilling off Somalia, with potential future operations in maritime areas of Syria, Iraq, and Lebanon, with decisions to be made based on economic feasibility and geological conditions. Bayraktar indicated Turkey's intention to extend the gas contract with Algeria, expiring next year, and increase supply volumes, praising the reliability of the company "Sonatrach." He also reported ongoing talks with Sudan in mining, oil, gas, and electricity production sectors, expecting increased activities of Turkish companies there.
