TR Oil & Gas Exploration Update & Discussion

[Huelague]

A very wise move. This will bring top-level expertise and will decrease the time required from discovery to the first gas.

They must participate turkish company.

 

[Bogeyman]

With LNG prices soaring, Turkey’s Black Sea gas will become more valuable than ever!​

We are living in an era in which global inflationary pressures are being felt more deeply than ever before. Even though idiosyncratic conditions of the global pandemic are triggering this period, expectations that the rising prices of some commodities will be long-term are being fortified by the day. Liquefied natural gas (LNG) tops these commodities, as natural gas prices are hitting an all-time high in Europe.

How will the demand for LNG develop?

In a study it published last week, Morgan Stanley revealed that LNG would be the fastest growing hydrocarbon over the next decade. It further stated that demand for LNG is expected to rise by 25 to 50 percent by 2030.

According to its findings, when compared with the last five years, LNG prices will increase by 40 percent over the next ten years. Morgan Stanley has already updated its long-term LNG price outlook to $10 per million British thermal units (mmBtu).

Why is Black Sea gas significant?

Over the last decade, Turkey has imported about 50 billion cubic meters (bcm) of natural gas per year. Since last year, we know that in addition to a significant amount of LNG, Turkey has been using pipe gas in a bid to diversify its resources. To increase its LNG purchasing capacity, Turkey has been investing in Floating Storage Regasification Units (FSRU). Ertuğrul Gazi, the FSRU ship it purchased, is also a part of this strategy.

Energy imports constitute one of the important reasons there is a deficit in Turkey’s balance sheets. Within this context, Turkey’s 540 bcm of natural gas discovery in the Black Sea becomes ever more important. Starting the drilling of the Black Sea reserve carries strategic significance, in terms of both supply and price security.

Green Consensus and zero-carbon emissions matter, but...

Only days remain for the 2021 United Nations Climate Change Conference, where climate change will be discussed at the highest level. On the top of the global agenda, we have the fight against climate change. The number of ventures aiming to limit the use of fossil fuels to minimize carbon emissions is bouncing. However, despite these initiatives, fossil fuel has retained its significance, and energy security is still directly linked to the unlimited and affordable availability of fossil fuels.

Japan is the latest example of this. At the beginning of this year when it had LNG supply issues, it sought to address the problem of meeting the country’s electricity demand by directly burning fuel. Now, once more, with rising LNG prices, Japan has turned to burning crude oil to generate electricity.

To finish off, a word of advice: To stay up to date with the latest developments in energy and for detailed analyses, I recommend you follow the social media accounts of Caner Can, energy advisor of the Ministry of Foreign Affairs, who will start working as Turkey’s energy advisor at the Permanent Representation to the EU at the beginning of next year.

With LNG prices soaring, Turkey’s Black Sea gas will become more valuable than ever! | Levent Yılmaz

We are living in an era in which global inflationary pressures are being felt more deeply than ever before. Even though idiosyncratic conditions of the global pandemic are triggering this period, expectations that the rising prices of some commodities will be long-term are being fortified by the...

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[TheInsider]

Fatih drillship started drilling activities at the Türkali-6 location.

Phase 1 of the Sakarya gas field project will consist of 10 wells. Proven reserves currently stay at 540 billion cubic meters.
Phase 1 covers the extraction and processing of 10 million metric standard cubic meters of gas per day(10 MMscd= ~3,65 billion cubic meters per year)
TR consumes around 45 billion cubic meters every year. The project is on track and the first gas will be given to the grid in 2023.

 

[Rodeo]

Fatih drillship started drilling activities at the Türkali-6 location.

Phase 1 of the Sakarya gas field project will consist of 10 wells. Proven reserves currently stay at 540 billion cubic meters.
Phase 1 covers the extraction and processing of 10 million metric standard cubic meters of gas per day(10 MMscd= ~3,65 billion cubic meters per year)
TR consumes around 45 billion cubic meters every year. The project is on track and the first gas will be given to the grid in 2023.

What's your odds on pumping gas to the grid in 2023?

 

[TheInsider]

What's your odds on pumping gas to the grid in 2023?

I'm very optimistic the project is running ahead of schedule when it comes to drilling activities. We will probably complete drilling 10 wells by Q1 or Q2 next year. We can drill 10 wells per year easily with the fleet we have provided that enough money can be spared for drilling operations. It all comes down to how fast the Subsea 7 consortium can deliver the machinery for the wells that will work on the seafloor (pumps, well lids, etc). IMHO we can produce over 7 billion cubic meters by 2025-2026 and over 15 billion by 2030.

 

[Rodeo]

I'm very optimistic the project is running ahead of schedule when it comes to drilling activities. We will probably complete drilling 10 wells by Q1 or Q2 next year. We can drill 10 wells per year easily with the fleet we have provided that enough money can be spared for drilling operations. It all comes down to how fast the Subsea 7 consortium can deliver the machinery for the wells that will work on the seafloor (pumps, well lids, etc). IMHO we can produce over 7 billion cubic meters by 2025-2026 and over 15 billion by 2030.

I honestly can't wrap my head around on how can we be that fast. When the discoveries started, I read several articles that said deep sea drilling requires special expertise and the gas can't be given to the grid before 10 years or something. But these developments proves them very wrong.

What is the feasibility of the program? Do you think we're spending more than we can gain from it? And I would love to hear your thoughts on the likelihood of us discovering more gas fields.

 

[TheInsider]

Nope, the reserve is very feasible at 540 bcm and with the existing Turkish grid. I think we will earn 50-60 billion directly from the reserve and over 100 billion if we calculate indirect effects. As for as I know 10 years time was given for peak production that will cover %20-30 of the needs of Turkey at that time. If the Subsea 7 consortium can complete its workshare on time the project will run smoothly.
We have completed the drilling of 6 wells(The first well+5 Türkali wells). Türkali-6 is the 7th well as far as i remember.

 

[TheInsider]

Planned activities for Turkish oil&gas and valuable minerals exploration and exploitation studies in 2022
-9 deep-sea wells will be drilled in 2022
-100 land wells and shallow sea wells will be drilled.
-The fracturing method will be applied to 2 wells.
-2636 square kilometers of land seismic data and 17000 square kilometers of sea seismic data will be collected.
-550000 meters of drilling is planned for the exploration of valuable minerals.
-1000 square meters of geological study, 15000 meters of drilling, will be completed for geothermal sources.
-Local equipment inventory will be prepared for national development and production of mining equipment.
-"Strategic and critical raw materials" report will be written about basic, critical minerals and rare earth materials. The report will include topics like strategic reserves, stocks, and import restrictions.


60 million barrels (3 months worth of Turkish consumption) of oil is discovered in 2021.

 

[Saithan]

While I think it’s good and well that we find ressources the unused rooftops are more important imo. Utilize every sqm rooftop to PV and you can generate an enormous amount of energy during daytime. But government wants ppl to pay for energy. The world is doomed with this attitude.

 

[Zafer]

While I think it’s good and well that we find ressources the unused rooftops are more important imo. Utilize every sqm rooftop to PV and you can generate an enormous amount of energy during daytime. But government wants ppl to pay for energy. The world is doomed with this attitude.

There are incentives to use rooftops for PV panels and house refitting sector like greenhouse makers / glazers ar considering going into PV application business. Some one I know is planning to do so.

 

[Saithan]

There are incentives to use rooftops for PV panels, and house refitting sector like greenhouse makers / glazers ar considering going into PV application business. Some one I know is planning to do so.

Won’t we need smartgrid to handle the energy if all rooftoops are utilized and citizens feed energy into the grid ?

 

[Rodeo]

While I think it’s good and well that we find ressources the unused rooftops are more important imo. Utilize every sqm rooftop to PV and you can generate an enormous amount of energy during daytime. But government wants ppl to pay for energy. The world is doomed with this attitude.

Rooftop pv is expensive. Better to go with utility built solar farms, imo. Size matters

 

[Zafer]

Won’t we need smartgrid to handle the energy if all rooftoops are utilized and citizens feed energy into the grid ?

I think rooftops will barely provide enough PV energy for use of the house and will not have excess to feed the grid. Also Tesla Powerwall type inhouse storage can be more viable as they eliminate transfer losses. Batteries for Powerwalls can be salvaged from used car batteries.

 

[Turko]

Gazprom's production peaks in 13 years

TEXT: ELENA BURKALO, 1 October 2021, 03:31



Gas production in Russia is breaking records

The Russian monopoly company in nine months ensured the growth in gas production promised for the entire 2021.

In September, Gazprom produced 40.8 billion cubic meters of gas, which is 12% more than in the same period last year. This figure is the highest since 2008, when it exceeded 42 billion cubic meters, Interfax reported on Thursday, September 30.

According to the newspaper, in nine months the company's gas production soared by 17% - up to 378 billion cubic meters. In absolute terms, it has grown by 55 billion cubic meters compared to last year.

Thus, the newspaper calculated, Gazprom, as of October 1, ensured the growth in gas production promised for the entire 2021.

"Gas production in Russia is growing due to the post-crisis recovery of markets, the need to replenish the large consumption of reserves from storage over the past long winter, as well as due to an increase in production at new fields for new markets (the Chayandinskoye field in Yakutia, from where gas goes to China)," in the material.

Let us remind you that this year Gazprom supplied 20.3 billion cubic meters of gas to Turkey, while last year only 8 billion cubic meters were supplied for the same period.

------+++------+
Gas price in Europe dropped to $ 740

TEXT: INNA SABATIN, 1 November 2021, 22:58





Gas in Europe fell to $ 740 per thousand cubic meters

This was preceded by an 11% rise in prices against the backdrop of the suspension of direct gas pumping to Germany via Yamal - Europe.

The cost of gas in Europe during the auction fell below $ 740 per thousand cubic meters. This is reported by TASS with reference to the data of the ICE exchange.

This was preceded by an 11% rise in prices against the backdrop of the suspension of direct gas pumping to Germany via Yamal - Europe.

It is noted that the price of December futures on the TTF hub in the Netherlands dropped to $ 738.8 per 1,000 cubic meters. m, or € 61.755 per MW * h (based on the current exchange rate of the euro to the dollar, prices for ICE are presented in euros per MW * h). The overall price reduction per day is about 4%.

Earlier on November 1, the price of gas at its peak almost reached $ 890 per 1,000 cubic meters. m.

As a reminder, the pumping of gas to Europe via the Yamal-Europe pipeline stopped on Saturday morning. After that, the gas began to reverse through the pipeline in the opposite direction. On Monday morning, reverse gas supplies from Germany to Yamal - Europe increased 3.6 times compared to the previous day.

At the same time, as follows from the data of the operator of the Polish gas pipeline network Gaz-System, gas continues to flow through Yamal - Europe to the territory of Poland from the east, but the subsequent pumping to the west to Germany is currently not carried out.

------------------+

Russian gas transit through Poland stopped

TEXT: ALEXANDER IVANITSKY, October 30, 2021, 13:19

00

READ NEWS IN UKRAINIAN



Russia has stopped gas supplies via the Yamal-Europe pipeline

Gazprom significantly reduced gas supplies to Europe at the beginning of the week, and today it stopped altogether.

On Saturday morning, October 30, the transit of gas from Russia through the Yamal-Europe pipeline completely stopped, reports TASS, citing data from the operator Gascade.

It is noted that gas pumping began to fall from 9:00, and completely stopped by 11:00.

Moreover, a small amount of gas reverse through the pipeline was recorded.

Gazprom has not yet commented on the situation.

At the beginning of the week, it was reported that gas supplies via the Yamal-Europe pipeline fell to 8 million cubic meters per day instead of the booked 31 million.

At the same time, it was reported that from November Gazprom will begin to increase gas injection into European storage facilities after reaching the target indicators for filling UGS facilities in Russia.



As a reminder, it became known last week that Ukraine is offering Gazprom a 50% discount on gas transit to the EU in excess of the volumes specified in the contract. The RF has not yet responded to the proposal.

 

[what]

Russia proving again and again that its not a trustable partner.

 

[Ecderha]

Russia proving again and again that its not a trustable partner.

if anybody Still Trust them it is that they are so Naive and they deserve the loss. I would say "wake up"

russians WAS and Still is "not a trustable". Because of their culture and nature. They are NOT developed society. They are driven from jealousy and hate.

In The West it is a Fact that russian = savager and don't be trusted. Always check what they doing, because = they always do "thug" things.

 

[Cypro]

Won’t we need smartgrid to handle the energy if all rooftoops are utilized and citizens feed energy into the grid ?

Smart grid is a different type of technology that manages small grids to better handle fluctuating energy production. Houses with PV and without battery (on-grid) could connect to any grid (which can handle fluctuation). You don't need smart grid but you can't do it without planning. I think the concept you are looking is smart meters which allows to sell excess solar energy. Turkey could possible handle PV at least up to 20% of total installed capacity. NG plants and Dams are very flexible in this manner while thermal is very bad (Nuclear and Coal). That is also why, there is an extreme demand on NG now, cleaner and flexible.

 

[TheInsider]

Nuclear is a very clean and good way to generate reliable electricity that can complement unreliable renewables. It is expensive if you don't have local production and money revolves inside the country. In the long term, we should completely phase our coal and natural gas plants and replace them with nuclear and renewables(hydro, wind, solar, geothermal) and personal electricity production with personal energy storage.

 

[Ryder]

Nuclear is a very clean and good way to generate reliable electricity that can complement unreliable renewables. It is expensive if you don't have local production and money revolves inside the country. In the long term, we should completely phase our coal and natural gas plants and replace them with nuclear and renewables(hydro, wind, solar, geothermal) and personal electricity production with personal energy storage.

Solar power is the future.

I dont trust nuclear power.

 

[Oublious]

Solar power is the future.

I dont trust nuclear power.

now you are talking like a leftist...


green power...