Türkiye eyes overseas oil and gas deals, including in Africa and Lebanon, as it pursues a 1 million-barrel daily production target

Türkiye could announce new acquisitions or agreements to expand hydrocarbon exploration by the end of the year, Energy Minister Alparslan Bayraktar said Tuesday. He said the country was pursuing a target of producing 1 million barrels of oil and natural gas per day.

Speaking at the Türkiye Energy Summit in Istanbul, Bayraktar said the country had production capacity of 300,000 barrels of oil equivalent per day and planned to raise it to between 550,000 and 600,000 by 2028. That projected level would remain below the 1 million-barrel goal, which would require more than tripling current output. Türkiye is looking to expand operations abroad, including in Africa and Lebanon, to bridge the gap.