TR Oil & Gas Exploration Update & Discussion

[YeşilVatan]

The gas has superb quality and it is extremely profitable especially compared to LNG but it is still not as profitable as Russian or Azerbaijani gas. Russian gas is dirt cheap for their own use but the Russians sell it at a good premium.

Damn, I guess that means one thing...

Fire up the forges boys, we're going to become the production center of the Euro-MENA!

 

[what]

Damn, I guess that means one thing...

Fire up the forges boys, we're going to become the production center of the Euro-MENA!

NL has tons of cheap & local gas and still isnt a manufacturing hub for the EU-MENA.

Resource curse is a real thing, where countries have become less industrialized (and more corrupt) because of their natural resources. Many countries with high natural resource discoveries developed in the exact opposite direction. Meaning less investments in industry, less income to the average citizen and less democracy.

Resource curse - Wikipedia

en.wikipedia.org

 

[Oublious]

NL has tons of cheap & local gas and still isnt a manufacturing hub for the EU-MENA.

Resource curse is a real thing, where countries have become less industrialized (and more corrupt) because of their natural resources. Many countries with high natural resource discoveries developed in the exact opposite direction. Meaning less investments in industry, less income to the average citizen and less democracy.

Resource curse - Wikipedia

en.wikipedia.org

Dutch goverment is selling the gas to international customers and buying cheap Russian gas for years. They have made a lot of money, but ther gasfields are almost done. It helped Netherlands a lot of.

 

[Lool]

NL has tons of cheap & local gas and still isnt a manufacturing hub for the EU-MENA.

Resource curse is a real thing, where countries have become less industrialized (and more corrupt) because of their natural resources. Many countries with high natural resource discoveries developed in the exact opposite direction. Meaning less investments in industry, less income to the average citizen and less democracy.

Resource curse - Wikipedia

en.wikipedia.org

I agree but that is only true when foreign nations get their hands on such resources first either through oil companies (in case of oil) or through sanctions, blackmailing or pure corruption just like in Egypt. In Egypt, there are gas reserves which Al-Sisi sold all of its profits to UK for the next 20 years during the early days of his rule so that the UK can give Al-Sisi political support and legitimacy to his presidency. Not only UK though, he even sold 2 crucial islands acting as Suez Canal gateway to obtain UAE, KSA, USA, and Israel's support

Countries, like Egypt, which are mainly underdeveloped have a lot of their resources stolen away but Turkey is different as it is quite industralised and has home grown tech

Turkey is different. Why do you think Erdogan is announcing low discoveries every now and then even though every1 knows that Sakarya gas field has over 1 trillion cubic metres of reserve? It is to avoid sanctions and other forms of foreign pressure so that he can develop it for Turkey. When the govt wanted to get their own drill fleets so that they can benefit from 100% of its resources many Western countries refused to sell to Turkey any vessels and only receded after Turkey bought its first 2 vessels from Asia (As far as I remember, you can correct me on this one)

We can go on for so long but I assure you that Current Turkey has more decent nationalists than the countries you are talking about.

A proof of that is the fact that countries like Egypt has functional gas reserves and wells for over 30 years and yet have no drill ships at all while Turkey doesnt have any functional gas wells to date yet possess a sizeable drilling fleet. If Egypt wants to drill, then they ask for EU help which then pass on harsh terms like getting 30% of the profits for the next 20 years or something. As for Turkey, the moment the Sakarya gas field was found, Turkey (in just a year) bought a massive national drilling fleet to aid it in its mission to independence

 

[dBSPL]

Seismic surveys off Kastamonu-Ordu are ongoing. In the Black Sea: After the Sakarya gas field, the focus will be on the Amasra field in 2023. Afterwards, drilling will move towards the eastern line within the seismic findings on the Kastamonu-Ordu line. The expansion and intensification of research towards the east is a very striking detail. Because it was generally accepted that the part of the Danube basin facing the Turkish exclusive economic zone had high gas potential. In other words, the area from the Sakarya gas field to the Bulgarian border contains potentially rich gas deposits. If there are findings in the central/eastern Black Sea that will divide the current drilling activities in the Black Sea into different regions, there is a greater wealth in the Black Sea than previously thought.

In 2026, there is a target to supply 1/3 of the gas used in Turkiye from the Sakarya gas field. If luck is on our side, we have the possibility of meeting almost all of the domestic consumption from 2 or 3 gas fields in the Black Sea within 10 years. While we have yet to make any significant finds in the Mediterranean(shhh), discoveries in the Black Sea alone could be enough to meet Turkiye's gas needs, excluding power plants. Reaching the point where Turkiye can meet its domestic consumption will create another strong point that Turkiye is the only realistic route for neighboring gas fields to reach Europe with its existing infrastructure.

 

[Zafer]

It is best to find gas in places where it is the cheapest to extract and also cheapest to deliver to the consumer from. In other words the cheapest to exploit. Those places would be coastal regions of the Black sea near major gas distribution pipelines. Once those places are explored we can move to harder to exploit locations. It is critical to scan the whole area to see the big picture and make the detailed exploration and exploitation strategy.

 

[Heartbang]

While we have yet to make any significant finds in the Mediterranean(shhh)

You'd have to actually go there and dig up the place. We can't just tear up the Blue Homeland just because the basins in the Black Sea can cover our butts!
Our motherland is indivisible!

 

[Nilgiri]

NL has tons of cheap & local gas and still isnt a manufacturing hub for the EU-MENA.

Resource curse is a real thing, where countries have become less industrialized (and more corrupt) because of their natural resources. Many countries with high natural resource discoveries developed in the exact opposite direction. Meaning less investments in industry, less income to the average citizen and less democracy.

Resource curse - Wikipedia

en.wikipedia.org

It will help with Turk forex situation....as simply base-input resource like NG will involve only local Lira...instead of forking out USD for it.

It only becomes resource curse if exports of this base-input become dominant portion of the total economy, which it certainly will not in TR case given its population, economic size and relative industrialisation that makes it energy deficit country regd trade.

i.e the consumption figure of TR regd NG per year is much larger than the production per year of these NG finds (i.e it will just be local consumption and lessen imports of same).

Middle East (and African) curse is when they have nothing else going economically and hence get monotone economy exporting large energy or other natural resource surplus.

Worst case in history (intensity impact wise) was likely Nauru with its guano-phosphate over-exploitation boom and then drastic bust (and massive problems created by all of this that linger longer term).

Or a more developed world/sector form of it (eg. Dutch disease) when again export of it creates a sudden impulsive overvaluing of the currency and prices out other parts of the economy internationally, and creates a negative pressure economic situation (in the non-energy sectors) to recover from when the energy surplus runs out.

 

[TheInsider]

According to one of my sources, there is a good chance for further discoveries in the Gabar oil field similar to the Sakarya gas field. 25k barrels per day will be achieved by the end of next year. Currently proven reserves stand at 150 million barrels.

 

[Bogeyman]

https://twitter.com/i/web/status/1611264191398117378

Türkiye Petrolleri Anonim Ortaklığı (TPAO) reported that the "Çepni", which will serve as a gas collection and distribution reservoir in the second production center of the Sakarya Gas Field, has been lowered to the seabed.

 

[Bogeyman]

https://twitter.com/i/web/status/1611709719554527234

Images from the combustion test of 710 billion cubic meters of domestic gas discovered in the Black Sea

 

[Bogeyman]

https://twitter.com/i/web/status/1611751341625430018

 

[dBSPL]

ForeCat

 

[Trakya_forever]

It is highly possible that there is much more in Black Sea. Not only the current west part but also in mid and east sections as well. I guess nearly 3 trillion cubic meters gas reserves for whole Black Sea in Turkish territory.

 

[Heartbang]

It is highly possible that there is much more in Black Sea. Not only the current west part but also in mid and east sections as well. I guess nearly 3 trillion cubic meters gas reserves for whole Black Sea in Turkish territory.

That is terrific news. Time to dig into Eastmed!

 

[TheInsider]

Manisa'daki siyah sıvı 'çok kaliteli petrol' çıktı

Manisa'nın Salihli ilçesinde bir zeytin bahçesini sulamak için açılan sondaj kuyusundan çıkan siyah renkli sıvının incelemeleri tamamlandı. Analizlerde, sıvının yüzde 94’ünün su, yüzde 6’sının ise petrol olduğu tespit edildi.

www.trthaber.com

An olive farmer drilled a water well in Manisa and found oil by chance. TPAO will drill to learn how big is the reservoir and if it is worth to invest. The depth of the water well is 208m.

Another grape farmer drilled near the area where the oil-like substance is discovered and found this. I don't understand why no expert from TPAO has ever visited the area since the first discovery.

https://twitter.com/i/web/status/1612778564914388994

 

[Heartbang]

Another grape farmer drilled near the area where the oil-like substance is discovered and found this. I don't understand why no expert from TPAO has ever visited the area since the first discovery.

https://twitter.com/i/web/status/1612778564914388994

Kleon Grigoriadis was right, Western Anatolia is full of oil and gas!

 

[TheInsider]

A new gas discovery in the Blacksea will be announced in February or March.

 

[Agha Sher]

A new gas discovery in the Blacksea will be announced in February or March.

In known fields or a new field?

 

[TheInsider]

In known fields or a new field?

Inside Sakarya Gas Field. Currently, all drilling activities are inside the Sakarya Gas field (light blue highlighted area).