TR Oil & Gas Exploration Update & Discussion

[dBSPL]

Won't happen until we to this same thing with the East-Med basin.

It may be true. The timid behavior in the Mediterranean is disappointing. But on the other hand, the Black Sea may hold much larger reserves than we think. Especially considering that significant preliminary findings are heading towards the central Black Sea territorial waters. Also, gas is only one aspect of this issue. There are other tools such as energy transition and renewable energy investments, nuclear energy.

 

[Heartbang]

It may be true. The timid behavior in the Mediterranean is disappointing. But on the other hand, the Black Sea may hold much larger reserves than we think. Especially considering that significant preliminary findings are heading towards the central Black Sea territorial waters. Also, gas is only one aspect of this issue. There are other tools such as energy transition and renewable energy investments, nuclear energy.

So what, we'll just let them have our homeland?

It isn't just about the EEZ anymore. Not after the Greeks summoned the whole EU to cover their spoilt asses. Its all the homeland, or none of the homeland!

 

[TheInsider]

We can't develop resources in the East Med because we don't have the means to do. We have only enough ships to develop Blacksea reserves. The first ship drills, the second ship does well tests and the third ship completes the well for production by leap-frogging one by one. That is how we manage to develop the reserve so quickly. It will take around at least 5 years to completely develop current reserves so we have no need to go drill East Med. It is not a priority. We should though actively block anyone who wants to do drilling on our turf and chase them. We can spare one drilling ship for exploratory wells or commit it to drill somewhere like Libya, Nigeria, or Somalia.

 

[TheInsider]

I expect a gas price cut and new discovery announcement this evening. Let's see I haven't heard anything about new wells.

 

[TheInsider]

Gas is free for 1 month and after the first month, the first 25 cubic meter of gas is free for a year.

 

[what]

Everything for the elections.

 

[Zafer]

Everything to make the people happy and make them relate to what is being done for them. For those people who want to see what is in it for them now. It is all in line with people's expectations.

 

[Lool]

Gas is free for 1 month and after the first month, the first 25 cubic meter of gas is free for a year.

Expected more tbh since 25 cubic metres isnt that much

 

[Okan]

this means that millions of refugees in the country and those who buy citizenship with money will enjoy the existence of my eternal homeland for free. Election...come quickly!!!

 

[Saithan]

Horrible decision. Should just made sure to pump enough gas to reduce and keep the cost steady.
Like with the financial market they’re hollowing out value even of resources due to incompetence.

 

[Ryder]

Gas is free for 1 month and after the first month, the first 25 cubic meter of gas is free for a year.

I dont buy this really. Spend all these resources and money trying extract the thing itself.

Then sell it for free. Not possible.

 

[Lool]

I dont buy this really. Spend all these resources and money trying extract the thing itself.

Then sell it for free. Not possible.

Horrible decision. Should just made sure to pump enough gas to reduce and keep the cost steady.
Like with the financial market they’re hollowing out value even of resources due to incompetence.

According to a previous message in this thread, the project cost of 1.6 billion will be completely repaid within the first 6 months from the project completion;i-e, by the end of this year. Therefore, a 1 month free gas as a testament to the first national grid of Turkey isnt that much of a bad deal

Moreover, you cant just pump gas out as much as possible from the first day, the current production rate is at its minimum due to limited number of pipes being installed till now. According to Daily Sabah, normally such projects take 7 years to complete while Turkey only did it in 3 years, thus, it is understandable to see maximum production capacity by the end of the next year or so since it ismt easy to lay pipes underwater

Moreover according to the Minister of Energy, current gas reserves are sufficient to power Turkey alone for 35 years (3.5 decades) which isnt much so they are gradually using gas until new reserves are found

 

[Oublious]

According to a previous message in this thread, the project cost of 1.6 billion will be completely repaid within the first 6 months from the project completion;i-e, by the end of this year. Therefore, a 1 month free gas as a testament to the first national grid of Turkey isnt that much of a bad deal

Moreover, you cant just pump gas out as much as possible from the first day, the current production rate is at its minimum due to limited number of pipes being installed till now. According to Daily Sabah, normally such projects take 7 years to complete while Turkey only did it in 3 years, thus, it is understandable to see maximum production capacity by the end of the next year or so since it ismt easy to lay pipes underwater

Moreover according to the Minister of Energy, current gas reserves are sufficient to power Turkey alone for 35 years (3.5 decades) which isnt much so they are gradually using gas until new reserves are found

With the current price we pay 100 billion dollar for gas, 30 procent is 30 billion dollars . We don't need to export it only for intern consumption is enoug even we manage cut 50% will pay off.

 

[Olaf]

With the current price we pay 100 billion dollar for gas, 30 procent is 30 billion dollars . We don't need to export it only for intern consumption is enoug even we manage cut 50% will pay off.

Buy this 30% gas from Russia at a cheaper rate for domestic consumption. And Export this domestic gas at premium to Europe. Just like Middle East buying oil from Russia for domestic consumption and selling their own oil to Europe at premium

 

[godel44]

With the current price we pay 100 billion dollar for gas, 30 procent is 30 billion dollars . We don't need to export it only for intern consumption is enoug even we manage cut 50% will pay off.

100 billion dollars was the entire energy imports for that year. IIRC, gas is about 25% of that amount and most of the rest is oil. Still $8 billion per year is nothing to scoff at either.

Moreover according to the Minister of Energy, current gas reserves are sufficient to power Turkey alone for 35 years (3.5 decades) which isnt much so they are gradually using gas until new reserves are found

That doesn't sound right either. The production of 10 million cubic meters per day would make 3.7 billion cubic meters per year and 40 million per day would make 14.6 billion. The current annual consumption is 60 billion per year. Total known reserves are 710 billion, so even if you could extract as much as you want to, covering the entire consumption would make it last 8.5 years.

The idea here is to cover residential use only and get natural gas out of electricity production eventually. This will lower the total gas consumption. Currently we have about 100GW installed base with half being renewables but with this momentum of renewable energy investments as we near 2030 we will probably have much higher domestic electricity production (renewables estimated at 85GW installed base + nuclear meeting 10% + domestic coal about 15 GW) even if electricity demand continues to grow at a fast pace.

The natural gas used by industry should be about the same amount as used by residences. They will continue with imports for now and if we make a discovery the same size as before, we can get them on domestic gas as well.

 

[TheInsider]

The energy bill will probably fall as natural gas is a lot cheaper now than a year ago.

 

[Oublious]

100 billion dollars was the entire energy imports for that year. IIRC, gas is about 25% of that amount and most of the rest is oil. Still $8 billion per year is nothing to scoff at either.



That doesn't sound right either. The production of 10 million cubic meters per day would make 3.7 billion cubic meters per year and 40 million per day would make 14.6 billion. The current annual consumption is 60 billion per year. Total known reserves are 710 billion, so even if you could extract as much as you want to, covering the entire consumption would make it last 8.5 years.

The idea here is to cover residential use only and get natural gas out of electricity production eventually. This will lower the total gas consumption. Currently we have about 100GW installed base with half being renewables but with this momentum of renewable energy investments as we near 2030 we will probably have much higher domestic electricity production (renewables estimated at 85GW installed base + nuclear meeting 10% + domestic coal about 15 GW) even if electricity demand continues to grow at a fast pace.

The natural gas used by industry should be about the same amount as used by residences. They will continue with imports for now and if we make a discovery the same size as before, we can get them on domestic gas as well.

lol

I always thought gas was the biggest problem but it is crude oil .

 

[TheInsider]

There is an additional oil discovery in the Gabar area. The additional reserve is as big as 6 years' worth of Turkish consumption (1.8-2 billion barrels). This info doesn't come from my TPAO source so take it with a grain of salt. It is from a journalist.

 

[TheInsider]

There is an additional oil discovery in the Gabar area. The additional reserve is as big as 6 years' worth of Turkish consumption (1.8-2 billion barrels). This info doesn't come from my TPAO source so take it with a grain of salt. It is from a journalist.

Update:
My TPAO contact says the size of the new reserve is 1 billion barrels with a good prospect for further discoveries.

The total oil discovered is close to 6 years' worth of Turkish consumption (more like 5 years) when we deduct the current local oil production from the oil imports.

 

[Ecderha]

The energy bill will probably fall as natural gas is a lot cheaper now than a year ago.

I could agree with you, because it is logical and because it is data provided as statistic.
But, Issues which making you logic to fail are following:
- Main gas provider -> russia is already using Proven Tricks to bypass Countries Laws and Countries Market laws .
What I mean is following -> russians Export own gas producst to targeted Country market -> then they change documents and Re- Export the same gas product to other country -> Then they change documents on same gas products and Again they Re-Export it to the first country as it was planed to sell it.
They do this corruption tricky plan to achieve:
-Sell gas on high price
-Find corrupted people with government power helping them on Local/that country. Keep paying them and make them on long term russian slaves which will later be so greedy and will obey what russians say.
-Make foot hold on this country ........

So Conclusion is that West have power to controls such tricks, but rest of world is proven to be take this opportunity and shit on his country and others country too