Shell and Turkish Petroleum Corporation (TPAO) started to drill in the Black Sea this month, one year earlier than originally planned.
Turkish Energy Minister Taner Y?ld?z said recently he was optimistic for the drilling, as the site is very close to where Romania, through ExxonMobil and OMV Petrom, has made significant discoveries in 2012. “Our new target is to build a drilling platform for around USD 1 billion,” he said, quoted by hurriyetdailynews.com.
The new seismic exploration ship, which was built in the northwestern district of Tuzla, is expected to be ready in March, Y?ld?z added. Y?ld?z said also that a total of 45 companies made 226 drillings in 2014. Some 90 exploration wells and 98 production wells were opened with a hitting ratio of around 33 percent. “Thanks to these findings, we saved USD 1.9 billion from our import bill in 2014,” he noted.
The 3-D seismic data for the drilling was collected by the TPAO ship Barbaros Hayrettin Pa?a, Shell Turkey Country Director Ahmet Erdem said. Around USD 300 million is invested in the drilling activities by the companies. Both companies will open an exploration well 100 km offshore in the western Black Sea to depths below 2,000 meters. The drilling ship will be supported by three ships and two helicopters. Around 240 people are expected to work at the site.
Turkey has paid some USD 6 billion less to buy oil than it should have thanks to decreasing oil prices, said Energy Minister Taner Y?ld?z. He added that the amount saved might increase to USD 12-13 billion this year, as long as there is no rise in oil prices.
ExxonMobil and OMV Petrom announced on July 2014 the start of drilling at the Domino-2 well in the deepwater sector of the Neptun Block offshore Romania in the Black Sea. Data collected during the drilling program will be used to assess the size and commercial viability of the gas field discovered by the Domino-1 exploration well in 2012.