Europe / Caspian / CIS

Turkey flag
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 sq.km)
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
Licensing:

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

23 May 24
Turkey: Trillion Energy commences work program at SASB gas field
Trillion Energy International has commenced operations program at the SASB gas field, Turkey which will occur over a two-month period. Operations are being conducted in several phases and involve seven or eight wells at the SASB gas field, including all six wells drilled/completed last year as well as a few older wells that historically experienced water loading issues.
13 May 24
Turkey: Subsea Integration Alliance awarded contract offshore Türkiye
Subsea 7 has announced the award of a large contract by Turkish Petroleum Offshore Technology Center AS (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Türkiye.
25 Apr 24
Turkey: Trillion Energy announces 2023 year end reserve report
Trillion Energy International has provided a summary and highlights of its December 31, 2023 year-end reserve report. Total proved plus probable conventional natural gas reserves increased to 55.75 Bcf up from 42.5 Bcf (2022), an increase of 31% from 2022. Total proved plus probable oil reserves of 240 Mbbl of oil for Cendere oil field compared to 252 Mbbl of oil in 2022.
15 Apr 24
Turkey: Nordex Group receives 80 MW order from Borusan EnBW Enerji in Türkiye
The Nordex Group received an order to supply 14 N163/5.X turbines from Borusan EnBW Enerji, a leading developer and operator of wind energy projects in Türkiye. The Delta4000 series turbines are projected for the 80 MW Pelit wind farm in the Sivas Province.
08 Apr 24
Turkey: Trillion Energy provides operational update for SASB gas field
Trillion Energy International has provided an operational update for the SASB gas field. Trillion is starting the SASB revitalization project where a total of 49 metres of new gas pay will be perforated in Guluc-2, South Akcakoca-2, West Akcakoca-1 and Akcakoca-3 prior to the installation of the artificial gas lift.

Turkey - more news

Other countries in this region




A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 234

Completed Deals

Completed Upstream Deals: 6571

Company Profiles

Current Company Profiles: 2912

Corporate Activity

Current Corporate Activity articles: 4149

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1658

Geostudies

Current Geostudies articles: 968

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Union Jack Oil 149
Merlin
Government of South Australia
OPC
Telos NRG
energy365
Rose & Assocs
Borchwix
Syntillica
Bayphase
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com