TR Oil & Gas Exploration Update & Discussion

Agha Sher

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Turkey found new gas reserves in the Black Sea​



Turkey found new gas reserves in the Black Sea, a source told Straturka. While the quantity was not disclosed, the source said it is huge and can lift Turkey to the top league concerning natural gas reserves. Turkish drilling ships had already explored 540 billion m3 in the region last year. Turkish state-owned oil company TPAO currently works on constructing a pipeline to transport the gas from wells to the land.

@TheInsider, is this what you were referring to earlier or is this a different field?
 

TheInsider

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Details remain to be seen but my source told me that the reserves in the Sakarya field are around 800-1000 billion(1 trillion) cubic meters and estimated feasible reserves in the Turkish-owned Blacksea which will include other fields are over 3 trillion cubic meters somewhere between 3-4 trillion cubic meters.
 

Rodeo

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Details remain to be seen but my source told me that the reserves in the Sakarya field are around 800-1000 billion(1 trillion) cubic meters and estimated feasible reserves in the Turkish-owned Blacksea which will include other fields are over 3 trillion cubic meters somewhere between 3-4 trillion cubic meters.
According to EIA, Azerbaijan has 60 trillion cubic feet gas reserves. Which makes about 1.7 trillion cubic meters. Are you saying we have, possibly, more gas reserves than Azerbaijan?
 

TheInsider

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According to EIA, Azerbaijan has 60 trillion cubic feet gas reserves. Which makes about 1.7 trillion cubic meters. Are you saying we have, possibly, more gas reserves than Azerbaijan?
Yeah, I know it is weird but it is what it is that is what I am told.

800-1000 cubic meters Sakarya gas field is proven or almost proven there is no doubt about that part. 3 trillion cubic meter Blacksea estimation is made using geological models of TPAO which is constructed from the data gained from Sakarya gas field discovery and seismic and geological studies which are conducted before and after drilling the Sakarya gas field.

TPAO created a geological model from the seismic(2D/3D) and geological data that TPAO gathered from the Blacksea before drilling the Sakarya gas field and it worked like a charm. TPAO just drilled a well in a location and found the gas like TPAO buried the gas there in the first place. This shows TPAOs geological model which is constructed from the collected data works like a charm and is very reliable for forecasting gas locations and the amount of gas. There is a big chance that the estimates of TPAO will be realized as drilling possible gas locations in the blacksea continues.
 

Rodeo

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Yeah, I know it is weird but it is what it is that is what I am told.

800-1000 cubic meters Sakarya gas field is proven or almost proven there is no doubt about that part. 3 trillion cubic meter Blacksea estimation is made using geological models of TPAO which is constructed from the data gained from Sakarya gas field discovery and seismic and geological studies which are conducted before and after drilling the Sakarya gas field.

TPAO created a geological model from the seismic(2D/3D) and geological data that TPAO gathered from the Blacksea before drilling the Sakarya gas field and it worked like a charm. TPAO just drilled a well in a location and found the gas like TPAO buried the gas there in the first place. This shows TPAOs geological model which is constructed from the collected data works like a charm and is very reliable for forecasting gas locations and the amount of gas. There is a big chance that the estimates of TPAO will be realized as drilling possible gas locations in the blacksea continues.
What about Mediterranean? I read somewhere that the seafloor in the Mediterranean is so deep that any work for extracting gas from it might be infeasible. Does TPAO have any model about our "white sea" ?
 

TheInsider

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What about Mediterranean? I read somewhere that the seafloor in the Mediterranean is so deep that any work for extracting gas from it might be infeasible. Does TPAO have any model about our "white sea" ?
I don't know but I know that all effort is concentrated on Blacksea.
 

Bogeyman 

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Minister of Energy and Natural Resources Fatih Dönmez, referring to the natural gas reserves that Turkey has discovered in the Black Sea, said, "We are counting down the days for new good news that will increase the amount and value of our discoveries in the Black Sea." said.
 

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images


TPAO also purchased the 4th drilling vessel, West Cobalt. The 7th generation drill ship is among the best in the world.

 

TR_123456

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We should invest everything in thorium molten salt reactors no reason to reinvent the wheel with going uranium it also comes with big baggage in the form of you guys are developing nukes.
I have been saying this for a decade now,its time they listen.
 

TheInsider

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According to my source, TPAO geological model also shows 10 billion barrels of oil in the Blacksea(feasibility probably depends on oil prices). TPAO identified 6 drilling zones across the Blacksea with its geological model the first one is the Sakarya field. Sakarya field is the hardest to drill and is estimated to be the biggest one according to the geological model. TPAO also encountered mud volcanoes and gas seeps when surveying the seafloor with the underwater vehicles.

We are getting a state-of-the-art 7th generation drillship. It will probably directly go to the Blacksea after maintenance.
 
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Rodeo

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According to my source, TPAO geological model also shows 10 billion barrels of oil in the Blacksea(feasibility probably depends on oil prices). TPAO identified 6 drilling zones across the Blacksea with its geological model the first one is the Sakarya field. Sakarya field is the hardest to drill and is estimated to be the biggest one according to the geological model. TPAO also encountered mud volcanoes and gas seeps when surveying the seafloor with the underwater vehicles.

We are getting a state-of-the-art 7th generation drillship. It will probably directly go to the Blacksea after maintenance.
Is the "10 billion barrels" part for the whole Blacksea or for the Turkish owned part?
 

Bogeyman 

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Turkish Petroleum applies to explore for oil in East Med​


Turkey’s state energy company has applied for a license to explore for crude oil in the Eastern Mediterranean, the Energy and Natural Resources Ministry said in a statement in the country's Official Gazette on Friday.
According to a map database, the three areas where the Turkish Petroleum Corporation (TPAO) plans to carry out the exploration are in Turkish territorial waters off the coast of Silifke in Mersin province.
TPAO’s application comes a week after President Recep Tayyip Erdoğan said Turkey would carry on exploring for oil and gas in the Eastern Mediterranean.

Turkey has been at odds with European Union members Greece and the Greek Cypriot administration over energy resources and jurisdiction in the region, and tensions flared last year when Turkish and Greek navy frigates escorted vessels exploring for hydrocarbons.

Turkey, which has the longest continental coastline in the Eastern Mediterranean, has rejected maritime boundary claims made by Greece and the Greek Cypriot administration, stressing that these excessive claims violate the sovereign rights of both Turkey and the Turkish Republic of Northern Cyprus (TRNC).

Erdoğan said Turkey had been receiving “signals of natural gas” in the Eastern Mediterranean and vowed to continue defending Turkey’s rights in the region. “Whatever our rights are, we will take them one way or another. And we will carry out our oil exploration operations in the Eastern Mediterranean, Cyprus, and all those seas,” he said.

Meanwhile, Energy and Natural Resources Minister Fatih Dönmez in late May said Turkey may drill more boreholes in its search for gas in the Eastern Mediterranean. Turkey has already opened eight boreholes in the region, the minister had said. While there were signs of natural gas, there had been no economically significant discovery.

“Our experts are checking data after each drill with the seismic data obtained previously. We could have several more drills close to the ones (boreholes) where we see signs of gas,” Dönmez noted.

“Time will tell, but we are hopeful. We evaluate that there is a potential,” he said.

Three of the eight opened boreholes are in the areas where Turkey was granted licenses from the TRNC, Dönmez said. “The others are in the areas of our own continental shelf. Seismic studies are also continuing,” Dönmez noted.
“We have our own rights and interests in accordance with international maritime law, and we will make no compromise.”

The island of Cyprus has been mired in a decadeslong struggle between Greek and Turkish Cypriots, despite a series of diplomatic efforts by the U.N. to achieve a comprehensive settlement.
The island has been divided since 1964, when ethnic attacks forced Turkish Cypriots to withdraw into enclaves for their safety. In 1974, a Greek Cypriot coup aiming at Greece's annexation led to Turkey's military intervention as a guarantor power. The TRNC was founded in 1983.
The Greek Cypriot administration, backed by Greece, became a member of the European Union in 2004, although in a referendum that year most Greek Cypriots rejected a U.N. settlement plan that envisaged a reunited Cyprus joining the EU.
 

Zafer

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in Turkey case i would say any price if that one is not higher then drilling costs.
Yes of course as long as yo are on the positive gains you are good, but prices fluctuate. Several years back industry experts were saying that 65$ is the minimum that will make drilling profitable, today it is probably at $75.
 

mulj

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Yes of course as long as yo are on the positive gains you are good, but prices fluctuate. Several years back industry experts were saying that 65$ is the minimum that will make drilling profitable, today it is probably at $75.
It is diferent calculation by company and by state. Especially if the whole production is meant for internal needs, in that case stock prices are not big burden factor.
 

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