TR Oil & Gas Exploration Update & Discussion

TheInsider

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Turkiye is also considering an independent refinery investment to refine recently discovered oil reserves. It is said that the capacity will be 200k barrels.
 

dBSPL

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If a confidentiality decision is taken this week, we may not get the good news
Akseki 1 has an 85% chance of discovery.
Our drillship will continue drilling 20 kilometers WEST of this well within the white dot Seville map according to the planning, the announcement can be made then.
October 29th?

 

TheInsider

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TPAO will drill 2 exploration wells on land near Antalya/Kumluca and Antalya/Demre. Those wells are related to the current ongoing offshore drill. It is done to see whether geological formations that show promise for hydrocarbons continue on land.

antalya.jpg
 

dBSPL

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TPAO will drill 2 exploration wells on land near Antalya/Kumluca and Antalya/Demre. Those wells are related to the current ongoing offshore drill. It is done to see whether geological formations that show promise for hydrocarbons continue on land.

View attachment 61995
Kemer and Kumluca are regions where Russians have been showing great interest for many years. Especially Kemer has changed tremendously in the last 20 years, almost like a Slavic holiday village. When I saw this map above, I wanted to give it as a footnote.
 

Bogeyman 

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TPAO was granted an oil exploration license for 8 years for 4 fields located in the Exclusive Economic Zone or continental shelf within the maritime jurisdiction areas determined by bilateral delimitation agreements in the Black Sea.
 

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Türkiye bought a giant oil platform from Brazil

TPAO, purchased a giant platform ship the size of 4 football fields to process the gas in the middle of the sea.

F_ZuK_mW0AAf8y1



Following the production of 10 million cubic meters within the scope of Phase-1, production with this platform will increase to 20 million cubic meters within the scope of Phase-2. According to Sabah's news, the ship, which was purchased from Brazil and is in Singapore to modernize its equipment, will be brought to Turkey in June 2025.

https://x.com/ogzhn_uyg/status/1726688644562309328?s=20
 

Oublious

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Türkiye bought a giant oil platform from Brazil

TPAO, purchased a giant platform ship the size of 4 football fields to process the gas in the middle of the sea.

F_ZuK_mW0AAf8y1



Following the production of 10 million cubic meters within the scope of Phase-1, production with this platform will increase to 20 million cubic meters within the scope of Phase-2. According to Sabah's news, the ship, which was purchased from Brazil and is in Singapore to modernize its equipment, will be brought to Turkey in June 2025.

https://x.com/ogzhn_uyg/status/1726688644562309328?s=20


So this means we have found something really really big...
 

Zafer

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Such a platform is also suitable to make space launch of rockets but only after it is retired.
 

TheInsider

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Processing the gas is the current bottleneck of the Blacksea gas project. Current land facilities are enough for 10 million cubic meters per day. TPAO is drilling wells fast and soon TPAO will reach 10 million per day. We need to quadruple processing capacity but it will take time. This ship will immediately add another 10 million cubic meters per day. TPAO can also move this to another spot, for example, eastern med, when the gas processing facility on the land reaches 40 million cubic meters per day.
 

Saithan

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These vessels are not cheap per day. Back in 2008 drilling rigs and platforms cost around 200k USD per day, I can’t imagine how much this costs. If it’s a strategic choice to help establish Türkiye as a gas exporting nation then I can understand undertaking this cost.

But I am thinking could this platform be used as cover for e.g. Exporting Russian gas. Just think about it.
 

Sanchez

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Oil production in Gabar has exceeded 30k barrels a day(with 23 oil well). They aim to reach the production rate of 35k a day before the end of the year.

Daily production is expected to reach 100k barrels at the end of 2024.

Sloooowly getting there.
Really interesting that even with all the advancements, Turkey's oil production still has not caught up to 90s levels where it was close to 100k barrels a year.
CZpUpIL.png

 

TR_123456

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dBSPL

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Our daily consumption is about 1mil barrels. Hopefully, we would discover new oil sites and ramp up our well-drilling activities.
As oil production increases, crude oil-dependent industries will expand. This will cause the total demand for crude oil to rise above its normal rate. The break-even point of 1 million barrels may therefore be inaccurate. The number of refineries in the country will increase at the same rate.

If we can see tangible progress in joint oil extraction and exploitation activities with Libya, the Caspian and Iraq, and even South Atlantic countries, this could have a multiplier effect on the value created by bringing domestic resources into the economy.
 

Sanchez

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Sloooowly getting there.
Oh wait, this is wrong. Figure i used was 100k barrels a year. Current TPAO production is 30k barrels a day. If we could do 30k barels every day of the year, it would mean 11 million barrels a year.
 

Shtr

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I guess the consumption will decrease year by year and production rate will increase. I guess every year another 100K will be added on top of this production rate. My blind guess is around 600K it will be break even. I expect around 2029-2030.

Please do not ignore the speed of the advance in the electrical engines.
 

Deliorman

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There is no way Turkish petroleum consumption decreases with 40% over the next 5-6 years.

It will probably even grow higher with the growth of the economy. There is no way EVs become as widespread in Turkey as you imagine in such a short period of time.
 

neosinan

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There is no way Turkish petroleum consumption decreases with 40% over the next 5-6 years.

It will probably even grow higher with the growth of the economy. There is no way EVs become as widespread in Turkey as you imagine in such a short period of time.
Mm, You need to check this years numbers. BEVs and PHEV are 15%+ of the Turkish market.We are talking about 800-900% increase in sales for EVs. Considering Daily production rates Togg reached last month, in 2024 Togg alone can have close to 10% of the market. EVs can have close to 50% market share in the next 3-4 years. With Current tax rates EVs simple makes sense. I admit that 40% is nearly impossible but over 20% decrease is plausible.
 
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