Thrace Basin Thrace Basin The European side of Turkey is called the Thrace Basin. It is the largest and thickest Cenozoic sedimentary basin in Turkey. The basin is triangular shaped, trends WNW-ESE and was formed by extension in late Middle Eocene to latest Oligocene times. This gas prone basin is located northwest of Istanbul, Turkey. About 9,000 meters of Eocene-Miocene marine clastics and continental sediments were deposited. Several basement faults were reactivated and underwent strike-slip motion in late Miocene times where the famous North Anatolian Fault bounds the southern part of the basin. The Cenozoic sedimentary succession, overlying Paleozoic to Mesozoic metamorphic
Economy of Turkey 2005. Share of mid and high technology products has increased from 5% in 1980 to 14% in 1990 and 43% in 2005. Turkey is an oil and natural gas producer, but the level of production by the state-owned TPAO isn't large enough to make the country self-sufficient, which makes Turkey a net importer of both oil and gas. However, the recent discovery of new oil and natural gas fields in the country, particularly off the Black Sea coast of northern Anatolia; as well as in Eastern Thrace, the Gulf of İskenderun and in the provinces of the Southeastern Anatolia Region