Oil-rich Chad invites Turkish companies to invest after Erdoğan visit

Oil-rich Chad invites Turkish companies to invest after Erdoğan visit

N’DJAMENA, Chad - Anadolu Agency
Oil-rich Chad invites Turkish companies to invest after Erdoğan visit

Turkish President Recep Tayyip Erdoğan’s official visit to Chad has paved the way for cooperation in extracting hydrocarbon energy, the African state’s energy minister said on Dec. 28.

Erdoğan’s one-day visit earlier this week was part of an African tour that included Sudan and Tunisia. 

“We see this visit as a huge opportunity,” Petroleum and Energy Minister Bechir Madet told state-run Anadolu Agency.

“We signed joint agreements on hydrocarbon fields with my counterpart [Turkish Energy Minister Berat] Albayrak and we will welcome Turkish companies to extract oil and energy resources in our country,” Madet said.

Chad has crude oil reserves that were estimated at 900 million barrels in 2004 and it also has plentiful sunshine, offering opportunities for solar energy projects.

“I believe we can increase the use of our underground sources with the help of our brother, Turkey,” Madet said.

“I have no doubt that the two countries will be very profitable in economic terms in accordance with the ‘win-win’ model. I have a map of Chad’s oil reserves. Even today, if demanded, we would immediately start production and export of petroleum through Turkish firms,” he added.

The Turkish government’s “win-win” model purportedly pledges “not to exploit but to support the African people and African development.”

Erdoğan’s visit, the first by a Turkish president, was dominated by business forums and the signing of agreements to strengthen economic partnerships.

Chad presents opportunities for Turkish investors in construction, agriculture, food processing and storage, animal product processing, textiles, machinery and energy, according to Turkey’s Economy Ministry.

“I invite Turkish companies to come and invest here,” Madet said.

“I promise to provide them with every kind of convenience and support. They can start to produce electricity immediately,” he added.

As well as oil, Chad is rich in gold and uranium deposits.

Turkey, Chad, Energy