OREANDA-NEWS  The reserves of the oil field recently found in the south-east of Turkey are estimated at 1 billion barrels, the head of the Turkish Oil Corporation Melih Khan Bilgin said on CNN Turk.

According to him, the estimated value of these reserves is $70 billion. Bilgin stressed that the oil that had previously been found in Turkey was of poor quality, and the raw materials at the new field were "very clean".

The head of the corporation also said that this source will bring in $3 billion annually as income. He added that within two years, production at the field should reach 100 thousand barrels per day.

As reported by IA REGNUM, on May 2, Turkish President Recep Tayyip Erdogan said that a new oil field was discovered in the Gabar region in Turkey at a depth of 2.6 km.