Türkiye's southeastern Diyarbakır Basin has the long-term potential to produce up to 250,000 barrels of oil per day (bpd), the chair of U.S. energy company TransAtlantic Petroleum said on Monday.
Türkiye currently consumes about 1 million barrels of oil per day, meaning the projected production from the Diyarbakır Basin could cover roughly one-quarter of national demand.
Potential daily gas production from the basin could be around 25 million cubic meters, TransAtlantic Petroleum CEO Malone Mitchell III told Anadolu Agency (AA) on the sidelines of an energy conference in Istanbul.
"Quite nice production, 25 to 50 million. That would be a substantial portion of Türkiye's internal demand," Mitchell said.
He said the full potential of the Diyarbakır Basin is difficult to quantify precisely as productivity is expected to vary across different parts of the play, but added that it could ultimately host more wells than all those currently operating across Türkiye.
"It certainly might represent more wells than all of the current wells that are in the country of Türkiye," Mitchell said, noting that such a scenario would likely unfold over around 20 years.
He added that output is expected to build gradually over the first five years before reaching what he described as "a mature running level."
The projection highlights the scale of unconventional oil and gas resources that industry players believe could be unlocked in the basin, one of Türkiye's key exploration areas alongside the Thrace Basin in the country's northwest.
Last year, Mitchell's Texas-based oil and gas company entered into a joint venture with state-run Turkish Petroleum Corporation (TPAO) and Oklahoma-based Continental Resources to pursue unconventional opportunities in the Diyarbakır Basin.
Preliminary assessments by the Energy and Natural Resources Ministry and Continental Resources indicate the basin could hold 6.1 billion barrels of oil.
Energy and Natural Resources Minister Alparslan Bayraktar last year said they estimate the Diyarbakır Basin spans around 7,000 square kilometers and noted that they plan to drill 24 wells over three years as part of a horizontal drilling program.
Mitchell said the partnership aims to transfer the know-how, capital and operational experience gained from nearly two decades of unconventional production growth in North America to Türkiye, noting that such developments remain relatively rare outside those markets.
If development proceeds as expected, activity in the Diyarbakır Basin is set to ramp up significantly over the next several years.
"Probably five years from now, we will see 25 rigs drilling in the unconventional," Mitchell said.
He said horizontal drilling techniques would allow operators to access large underground areas while minimizing the footprint on agricultural land.
"Each rig, because it would be drilling horizontally, would be as productive as four or five vertical wells," he said.
Mitchell said that Türkiye's strategic location and stability are becoming increasingly important as geopolitical tensions reshape global energy markets.
"It is the crossroads of energy, and it has become more important as the conflict in Ukraine and the area cut off part of the northern hub. Then the southern hub became more important," he said.
He added that ongoing energy crises are fragmenting global energy flows, putting Türkiye in a position to exhibit stability in an increasingly unstable world.
Drawing on nearly two decades of experience in the country, Mitchell said Türkiye offers a reliable environment for international investors.
"What we have learned over 18 years is that the legal system works, the regulatory system works, we can rely on the banking system to be able to transfer money to make payments," he said.
The CEO said he has advised U.S. policymakers and energy executives that while Türkiye may not have the largest resource base, its stability makes it an attractive hub for regional energy operations.
He added that the company's operations in Türkiye have helped establish its credibility as it expands into new markets, with potential partners often encouraged to seek references from Turkish authorities.
Mitchell pointed to Uzbekistan as one of the countries the company has moved into, noting that Turkish contractors already play a key role in the country’s economic development, creating opportunities for its services.
Although the company is exploring opportunities elsewhere, Mitchell said its partnership with TPAO remains its top priority.
He said the joint venture represents the company’s largest global opportunity, prompting it to scale back other activities to focus on the fastest path to success.
"To a certain degree, we are limiting the other things we do so that we can make sure there is the greatest, fastest path to success," Mitchell said.
"Right now, probably the No. 1 opportunity set we have, maybe worldwide, is our joint venture with Turkish Petroleum," he said, adding that success could pave the way for further collaboration.
"That is probably the most important relationship that we have and what we see as an opportunity set worldwide for our company right now," Mitchell added.
