Europe / Caspian / CIS

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Summary | Profile

Country profile: Turkey

Location: Southeastern Europe and Southwestern Asia (that portion of Turkey west of the Bosporus is geographically part of Europe), bordering the Black Sea, between Bulgaria and Georgia
Climate: temperate; hot, dry summers with mild, wet winters; harsher in interior
Terrain: high central plateau (Anatolia); narrow coastal plain; several mountain ranges
Size: 780580 sq. km total (Land area: 770760 sq. km  Water area: 9820
Population: 71,892,807 (July 2008 est.)
Languages: Turkish (official), Kurdish, Dimli (or Zaza), Azeri, Kabardian note: there is also a substantial Gagauz population in the European part of Turkey
Government: republican parliamentary democracy
Capital city: Ankara
Legal system: civil law system derived from various European continental legal systems; note - member of the European Court of Human Rights (ECHR), although Turkey claims limited derogations on the ratified European Convention on Human Rights
Currency: Turkish lira (TRY); old Turkish lira (TRL) before

Country profile

Turkey experienced a strong economic recovery after a financial and currency crisis in 2001 that led to severe economic contraction. During 2005, Turkey's real gross domestic product (GDP) grew by 7.4 percent, down somewhat from the 2004 rate of 8.9 percent. For 2006, real GDP growth is forecast to ease to 4.6 percent, reflecting a number of factors that have slowed Turkish economic growth. These include depreciation of the Turkish new lira, a decline in Turkey’s stock market, rising inflation, and the country’s growing current account deficit. On October 3, 2005, the European Union (EU) began the formal accession framework for Turkey to become a full member of the EU, although this process is likely to take some time. Turkey will be required to undergo further economic reform and liberalization in order to meet EU membership requirements (for more information on Turkey’s accession framework with the EU, see the EU enlargement page ). Turkey lacks significant domestic energy resources. However, its location makes the country an important energy transit country, with the Bosporus Straits, through which Caspian oil passes en route to European markets; the Baku-Tbilisi-Ceyhan (BTC) Pipeline, the first transnational pipeline that transports Caspian oil without crossing Russian soil; and Turkey’s port of Ceyhan, which is the primary terminal through which Iraq’s northern oil exports pass (for more information, please see the Caspian Sea Brief , the Bosporus Oil Transport Chokepoint Brief , and the Iraq Country Analysis Brief ). In addition, Turkey’s relatively large population and growing economy have made the country a significant regional energy consumer in its own right.

Energy production and consumption

Oil Gas
Production: 45,460 bbl/day (2005 est.) 860 million cu m (2005 est.)
Consumption: 660,800 bbl/day (2005 est.) 26 billion cu m (2005 est.)
Exports: 112,600 bbl/day (2005 est.)  
Imports: 724,400 bbl/day (2005 est.) 25 billion cu m (2005 est.)
Reserves: 300 million bbl (1 January 2006 est.) 8 billion cu m (1 January 2006 est.)
Major fields:

Turkey - recent news

22 Sep 23
Turkey: UKOG provides Pinarova-1 testing update
UK Oil & Gas (UKOG) has announced that following the temporary suspension of Pinarova-1 testing operations, larger and more powerful 7-inch perforating guns have been sourced and testing operations will recommence as soon as possible.
11 Sep 23
Turkey: TDI-Brooks completes deepwater geotechnical program in the Black Sea
TDI-Brooks successfully completed phase four of a deepwater geotechnical coring and CPT project for DenAr Ocean Engineering. TDI-Brooks utilized their Jumbo Piston Cores (JPC) and CPT Stinger geotechnical tools and operators to the ongoing project off Turkey in the Black Sea.
25 Aug 23
Turkey: Nordex Group awarded contracts for three projects in Türkiye
The Nordex Group has been awarded contracts for three projects by Heitkamp Industrial Solutions GmbH, a German-based construction subsidiary of Rönesans Holding. Heitkamp will act as EPC contractor in these projects on behalf of Rönesans Enerji. The three projects are part of the YEKA RES-3 tender.
02 Aug 23
Turkey: Trillion Energy announces SASB update and Alapli-2 well results
Trillion Energy International has announced the Alapli-2 well flow test results and provided an update on future drilling programs at the SASB gas field, Turkiye.
01 Aug 23
Turkey: Trillion Energy farms into oil exploration blocks in S.E. Turkiye
Trillion Energy International has entered into a farm-in agreement with Derkim Poliüretan Sanayi ve Ticaret A.S. to earn a 50% working & revenue interest in three oil exploration blocks comprised of 151,484 hectares within the newly defined Cudi-Gabar petroleum province, Southeastern Turkiye. To earn the 50% the Company must acquire 351 km of 2D seismic in 2023 and drill 4 wells in 2024.

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