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AbstractAbstract
[en] Turkish President Recep Tayyip Erdogan announced Turkey's biggest gas discovery ever on August 21, 2020. Initial findings show that the estimated reserve capacity is 320 billion cubic meters (bcm) of gas. The offshore reserve is located 175 km offshore Eregli in the Black Sea and Tuerkiye Petrolleri Anonim Ortakligi (TPAO) reached to the reserve after drilling 2115 meters of water depth. After reaching to the first layer, TPAO plans to go 1000 meters deeper with further prospects. The deposit is named after Necip Fazil Kisakuerek's poem 'Sakarya'. Necip Fazil was one of the leading figures of the Islamist ideology in Turkey. Almost four decades after his death, he is still a well-respected name among AK party circles. The poem is devoted to Sakarya river that flows from Turkey's heartland to the Black Sea and it contains strong political messages that are well appreciated by Turkish conservative elites. Thus, the government attributed a greater meaning to the discovery beyond its economic value. Minister of Treasury and Finance Berat Albayrak's description of the discovery as Turkey's emergence as a new axis also indicates this phenomenon. As in the reopening of Hagia Sophia as a mosque in July 2020, the government used the discovery as an element of public relations. It chose to take the society's expectations as high as possible rather than making the announcement instantly and postponed it for two days. Under the favorable atmosphere, Turkish lira appreciated against US dollar almost 2 percent before the president's speech, but depreciated once the reserve capacity was declared publicly. The speaker of the Republican People's Party Faik Oeztrak said that the initial reports that appeared on the media hinted at a larger discovery, but the ones who had the actual numbers took the advantage of buying dollars or shares of energy companies at lower levels and made profits. Some experts with engineering backgrounds, like Necdet Pamir, reminded that it was too early to talk about the importance of the discovery considering the fact that the process of appraisal of the field still continues and the available data were limited. According to these experts, final results could be different than the initial findings in positive or negative direction. Even though these experts take a cautious position, refusing to speculate about the discovery, the debate still continues in economic and political terms
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1 Oct 2020; 4 p; ISBN 979-10-373-0234-2;
; 9 refs.; Available from the INIS Liaison Officer for France, see the INIS website for current contact and E-mail addresses

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