Erdemoğlu Holding's Chairman Erdemoğlu Conducts On-Site Inspection of Gabar Oil
As of November 2024, Turkey produces a total of 3 million 425 thousand barrels of crude oil, half of which comes from Gabar. At Gabar, where daily oil production has surpassed 61 thousand barrels, the highest quality oil in Turkey is produced.
As our country progresses towards achieving full independence in energy, a new ecosystem is being established through the development of national technologies within the oil industry on our soil.
Ibrahim Erdemoğlu, Chairman of the Board of Erdemoğlu Holding, who examined the oil wells in Gabar, highlighted the ongoing oil exploration efforts in our country. He stated that they will produce petrochemical products using crude oil and condensate in their investments, and thus expressed their interest in learning about the plans for the oil wells in Gabar for the next five years.
Erdemoğlu Holding, which has attracted attention with its significant investments in the carpet and polyester sectors, is preparing to reap the rewards of its investments by 2025. The Petrochemical Facility Project planned by Erdemoğlu Holding in Yumurtalık, which holds a leading position in the polyester sector outside of China and India, will be one of Turkey’s largest petrochemical facilities.
The first phase of the SASA (IS:SASA) Yumurtalık Project will start in 2026 with an investment of 5.5 billion dollars. Ibrahim Erdemoğlu pointed out that Turkey imports 22 billion dollars worth of petrochemical products annually and expressed that with local oil resources in Gabar, there is a chance to halt petrochemical imports.
He mentioned their desire to build a refinery that will process approximately 6.5 million tons of product annually, with a target to increase this figure to 13 million tons over time, which would significantly reduce imports in categories such as diesel, LPG, etc.
With the commencement of the SASA Yumurtalık project, which will have a total investment budget of 25 billion dollars over the next decade, the products obtained from crude oil will range from raw materials and intermediate products to final products, extending even to yarn.