TR Oil & Gas Exploration Update & Discussion

[mulj]

Turkey is not iran, venezuela, lybia....

 

[Yasar_TR]

Turkey is not iran, venezuela, lybia....

So??
Neither is Russia!

 

[mulj]

So??
Neither is Russia!

You are in NATO, remsmber? Anyway, you do not need one of the largest reseves in world only to cover your import needs, even if you find someting big that could disrupt world market, no need to brag about it, so you can save yourself from any speculated trouble.
In case of finding bigger oil reserves i would rather think and put in focus how to refine and process it in many products as possible.

 

[Yasar_TR]

You are in NATO, remsmber? Anyway, you do not need one of the largest reseves in world only to cover your import needs, even if you find someting big that could disrupt world market, no need to brag about it, so you can save yourself from any speculated trouble.
In case of finding bigger oil reserves i would rather think and put in focus how to refine and process it in many products as possible.

You probably misunderstood!
I meant neither is Russia, a Libya or an Iran or a Venezuela. But there are so many restrictions on their oil and gas sales. European countries and us are being pressurised not to buy Russian Gas and Oil.
As you, I also said in my previous post, that we need enough oil and gas to meet our own demands. If we become an exporter of gas and oil we start stepping on the Oil Trusts’ toes.

 

[Ryder]

You are in NATO, remsmber? Anyway, you do not need one of the largest reseves in world only to cover your import needs, even if you find someting big that could disrupt world market, no need to brag about it, so you can save yourself from any speculated trouble.
In case of finding bigger oil reserves i would rather think and put in focus how to refine and process it in many products as possible.

Acting defiant to stronger powers leads to more ruin.

You got to buy your time and play it safe.

Usa and the West have power which makes them dictate the rules. You either play by their game and buy your time or this dick swinging defiance leads to your ruin we seen this in the past so many times.

This is the same story of the Soviet Union collapsing they were strong militarily and politically but were in shambles when it came to the economy because the Americans ran the global economy.

 

[mulj]

You probably misunderstood!
I meant neither is Russia, a Libya or an Iran or a Venezuela. But there are so many restrictions on their oil and gas sales. European countries and us are being pressurised not to buy Russian Gas and Oil.
As you, I also said in my previous post, that we need enough oil and gas to meet our own demands. If we become an exporter of gas and oil we start stepping on the Oil Trusts’ toes.

You are right, i misundestood partially, sure disrupting established market flows does not comes without consequences but even if you would habe that kind of ambition you are by my opinion less exposed then mentioned countries from various reasons, lets say those are "sweet worries".
Anyway, that is all spekulation until you find that quantity of oil reserves.

 

[Deliorman]

How long we will have to wait until the Müjde?

 

[Zafer]

This has got nothing to do with having Iron Resolve! The more you stand firm against these trusts the deeper you sink in to the mud.
Chavez tried it in Venezuela. Look where it got them! They have the largest known oil reserves in the world. But the country is starving.
Iran’s Mullah’s have a lot of resolve. But they are seen as a pariah state. Apart from China and North Korea they do not have economic and technical cooperation with anybody.
Khaddafi tried to stand up to the west and the oil conglomerates. He was toppled over in the end. (OK he had a hand in Middle Eastern politics against Israel too).
Iraq with Saddam tried to defy the western powers and meddle in oil politics. Now the country Is in turmoil.
Whoever is in the helm, if Turkey finds substantial oil reserves in the South East and Gas in Eastern Mediterranean and Black Sea, there is no way that leader is going to be able to stand firm and survive. There are so many instruments in the hands of the West that can have an impact on Turkish economy that can make or break.

You've got it all wrong, those leaderships are all weaklings that's why they collapsed. Your claim that the leadership who will find hydrocarbons in the Turkish EEZ will collapse is in full contrast to what is unfolding before our very eyes. I see that you have no faith in Turkey's hydrocarbon exploitation effort's success. It is so unbecoming that you regard the foreign powers above ours and underestimate our leadership. Like you have not witnessed what the powers you mention have been trying to do all along yet our leadership has not moved an inch.

 

[Yasar_TR]

You've got it all wrong, those leaderships are all weaklings that's why they collapsed. Your claim that the leadership who will find hydrocarbons in the Turkish EEZ will collapse is in full contrast to what is unfolding before our very eyes. I see that you have no faith in Turkey's hydrocarbon exploitation effort's success. It is so unbecoming that you regard the foreign powers above ours and underestimate our leadership. Like you have not witnessed what the powers you mention have been trying to do all along yet our leadership has not moved an inch.

I do have confidence in my country and strongly believe in the exploration of hydrocarbons in land and in sea. It makes me happy to see new finds. Like all true Turks should be. But I am also a realist and can not be blind to world realities. As @Nein2.0(Nomad) has said there is no time now to “dickswinging defiance“ diplomacy trying to prove a point to your electorate.
From what you have written here I understand that we disagree quite a lot. So let us not take this argument to unnecessary and political levels.
We are both Turkish and want to see Turkey prosper and be a force to be reckoned with.
I definitely do not have any confidence in this administration. But you do.
So Let us agree to disagree and close the subject.

 

[Zafer]

Whoever is in the helm, if Turkey finds substantial oil reserves in the South East and Gas in Eastern Mediterranean and Black Sea, there is no way that leader is going to be able to stand firm and survive. There are so many instruments in the hands of the West that can have an impact on Turkish economy that can make or break.

You said this.

 

[Yasar_TR]

You said this.

That is your opinion!
As I said I am a realist.
Once again, I say let us leave this discussion here. Let us agree to disagree! I will not respond to this anymore!

 

[Test7]

The amount of newly discovered natural gas is 135 billion m3.. thus, the amount of natural gas reserves discovered in the Black Sea has reached 540 billion m3.

 

[Zafer]

That is your opinion!
As I said I am a realist.
Once again, I say let us leave this discussion here. Let us agree to disagree! I will not respond to this anymore!

That is not my opinion, that is your opinion exposed.
It is not only about this government but about Turkey.
I just answered because you asked.

 

[Zafer]

The amount of newly discovered natural gas is 135 billion m3.. thus, the amount of natural gas reserves discovered in the Black Sea has reached 540 billion m3.

That's another 3 year consumption of Turkey which is 45 bcm per year.
Natural gas is the cheapest and cleanest source of energy for heating and electric generation.
Only Nuclear Fusion or Thorium Molten Salt Reactor can compete with natural gas. If and when the clean and abundant Thorium nuclear energy can be utilized will there be no need to explore for natural gas.

 

[TheInsider]

The gas field is vast. The number of proven reserves will increase as new wells being drilled.

 

[Turko]

How many years will it take to drill all reserves? the drilling technology will enable Turkey to take all gas in ten years?

 

[Zafer]

I think there won't be a rush to extract the whole gas in a short time frame because the reserve is also like you gas depot. You want to balance the imported and extracted amounts to make the best use of both resources. When the import prices are low you keep importing and when not you extract more. As for exploring the whole area for reserves we have the drilling capacity for explorations however there may be other customers who may want to ask for our services for explorations and extraction. Like Libya, Somalia, Romania and Bulgaria and perhaps Greece, who knows.

 

[what]

Just to add to what @TheInsider said, the ships we acquired were on the verge of being sold for scrap because of the low oil/gas prices. Those ships cost 400m €+ if you buy them new, we bought all of them for less than 100 m € each. Of course exact prices are not know.

 

[what]

How many years will it take to drill all reserves? the drilling technology will enable Turkey to take all gas in ten years?

No need to take it all within ten years, we need to consume it little by little because it will offer flexibility in long term but in short term (if we extract all) will only cover 10 years and then offer no or little advantage in negotiations with Russia & co.

 

[TheInsider]

How many years will it take to drill all reserves? the drilling technology will enable Turkey to take all gas in ten years?

In the first phase, 10 wells will be drilled. Sakarya gas field ( which belongs to the Danube basin) is very big and contains several areas. Amasra-1(135 billion cubic meters) well is located in a different area than the Tuna-1(405 billion cubic meters) well and one of our seismic vessels conducts studies in a different gas field (Kastamonu) in the Blacksea.

There are 3 different possible scenarios. There might be a huge single gas reservoir, there might be several reservoirs that are connected to each other or there might be several reservoirs independent of each other. We know that the Tuna-1 reserve and Amasra-1 reserve belong to the same geological formation(Danube Basin) and to the same gas field(Sakarya gas field) but we don't know if they are connected to each other in any way.

I expect upward revisions to continue as we drill more wells. I have big hopes for the area and I think total reserves will reach 1 trillion cubic meters. But extraction process will be extremely difficult. We will run one of the hardest deep-sea extraction operations in the world at 2300 meters deep and in a high H2S concentration.