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Türkiye Aims for 100,000 Barrels Per Day from Gabar Well by Year End

Gabar well in Sirnak Province, southeastern Türkiye. (Getty)
Gabar well in Sirnak Province, southeastern Türkiye. (Getty)
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Türkiye Aims for 100,000 Barrels Per Day from Gabar Well by Year End

Gabar well in Sirnak Province, southeastern Türkiye. (Getty)
Gabar well in Sirnak Province, southeastern Türkiye. (Getty)

Türkiye’s President Recep Tayyip Erdogan has said the country's goal is for the daily oil production in Gabar well to reach 100,000 barrels by the end of 2024, according to Anadolu Agency.

“Our main goal is to achieve complete independence in energy. We are determined and courageously implementing initiatives that will guarantee Türkiye’s energy security,” said Erdogan in a statement on Saturday at a meeting organized in Türkiye’s Black Sea province Zonguldak.

Erdogan further said the daily production of oil wells in Gabar mountain, located in Türkiye’s southeastern province Sirnak, has reached 35,000 barrels.

"We aim for the daily oil production in Gabar to reach 100,000 barrels by the end of the year 2024,” he added.

Erdogan also hoped to announce new good news regarding oil, mining, and natural gas in the upcoming period: "We will never allow the prevention of Türkiye’s utilization of its underground and above-ground resources again."

The Turkish president announced in December 2022 the discovery of a field with oil reserves amounting to 150 million barrels in Mount Gabar.

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Saudi Arabia, Tajikistan Sign Agreement to Establish Joint Business Council

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
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Saudi Arabia, Tajikistan Sign Agreement to Establish Joint Business Council

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

The Federation of Saudi Chambers and the Chamber of Commerce and Industry in Tajikistan signed an agreement on Monday to establish a Saudi-Tajik Business Council aimed at strengthening trade and investment relations between the two nations.

The agreement was signed in Riyadh by Chairman of the Federation of Saudi Chambers Hassan Al-Huwaizi and Chairman of the Tajik Chamber of Commerce and Industry Jamshed Jumakhonzoda. The signing ceremony was attended by Tajikistan's First Deputy Prime Minister Hokim Kholiqzoda, Saudi Minister of Investment Khalid Al-Falih, and several officials and business leaders from both countries.

The business council will engage in systematic trade and investment promotion activities across various sectors identified in the economic cooperation agenda. It will serve as a platform for Saudi and Tajik business communities to network, showcase their activities, and foster commercial partnerships.

Additionally, the council will work to open new avenues for economic collaboration, facilitate continuous interaction between the private sectors of both countries, and exchange information on market opportunities. Plans include organizing exhibitions, conferences, and trade delegation visits to enhance mutual economic ties.

This agreement marks a significant step forward in expanding bilateral economic cooperation, aligning with both nations’ goals to strengthen partnerships and explore new business opportunities.