TPAO is preparing for 4 billion dollar sukuk issue
Minister of Energy and Natural Resources Alparslan Bayraktar announced that after the 'non-deal roadshows' held in Dubai, Abu Dhabi and London, Turkish Petroleum (TPAO) is preparing for sukuk exports of up to 4 billion dollars.
Minister Bayraktar made statements to Bloomberg News about the sukuk issuance prepared by TPAO.
It is expected to be done for 5 years
Minister Bayraktar said, "If the calendar is up, we plan to complete it before the beginning of the year." Bayraktar noted that the issuance amount is planned to be 4 billion dollars at this stage, and it is expected that the exports will be made for 5 years.
22 Meetings
Stating that 22 meetings were held in 3 centers within the scope of 'Roadshows' this month and investors with a size of 15 trillion dollars came together, Minister Bayraktar said, "In these meetings, comprehensive information was provided about the financial outlook of TPAO, Sakarya and Gabar projects and the planned sukuk structure. As a result of these studies, a positive feedback was formed that supports the investor's interest and the planned calendar for issuance." said.
With the decision of the President published on November 8, the way was paved for the establishment of TPAO Varlık Kiralama Anonim Şirketi as a subsidiary of TPAO.
Target 45 Million Cubic Meters Per Day
Türkiye plans to make significant investments in the first natural gas exploration site, Sakarya Gas Field in the Black Sea and oil fields in Şırnak Gabar next year. Production in Sakarya Gas Field, which reached 7 million cubic meters per day in 2024, increased to 9.5 million cubic meters this year. With the start of work of the first floating production platform, production is expected to increase to 20 million cubic meters in 2026, and to 45 million cubic meters per day with the second floating production platform, which will be commissioned in 2028. As of November, the drilling of 2 wells continues in the field where the drilling of 15 wells has been completed.
81 Thousand Barrels Daily from Gabar
In the oil field Gabar in the southeast of Türkiye, daily oil production, which was 57 thousand barrels per day last year, reached 81 thousand barrels this year. After the drilling works carried out, especially in Şırnak, Adıyaman and Diyarbakır, 62 million barrels of new reserves were discovered in the region.
300 Drilling
On the other hand, Türkiye is planning to drill a total of 300, 282 on land and 18 at sea, next year.