ERBIL, Kurdistan Region - The governor of Turkey’s Sirnak province on Friday announced the discovery of new oil reserves and expressed hope for the economic future of the province amid a cost of living crisis.
“Right now in eight regions of Sirnak explorations are being carried out,” Governor Osman Bilgin told reporters. “This means that exploration-related operations are being carried out in all of Sirnak’s mountains.”
Sirnak is a small province in southeastern Turkey, bordering the Kurdistan Region.
In December, Turkish President Recep Tayyip Erdogan announced the discovery of an oil field in Sirnak’s Gabar Mountain, containing an estimated 150 million barrels valued at approximately $12 billion.
According to Bilgin, the latest discovery is estimated to be around five to 10 times the volume found in Gabar.
He said the discovery is good news for the province. “From now on Sirnak will not discuss unemployment or issues. It will discuss beautiful things, such as sport and production,” he said.
Turkey is struggling with crippling economic woes with its currency losing value and people facing soaring inflation and a cost of living crisis.
On Friday, the Turkish lira plummeted to an all-time low, with 20 liras trading for one US dollar.
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