Turkish Petroleum focuses on Med. Sea with 3D seismic

Turkish Petroleum increased the total area that it explores with 3D seismic technology in the Mediterranean Sea by 41% year-on-year in 2018 to 9,342 square kilometers.

According to the official figures compelled by Anadolu Agency, the number of exploration and research licenses of the company in 2018 increased by 67% compared to the previous year and reached 216.

Last year, the company increased the number of wells drilled on land from 18 to 24, and a total of 69 wells were drilled.

Turkish Petroleum collected airborne gravity-magnetic data over 40,000 square kilometers last year.

Seismic and geological studies have revealed important findings about the hydrocarbon potential in the sea, according to the company's yearly report.

The previous year, the total of area that is explored by 3D seismic technology in Mediterranean Sea was 6 thousand 617 square kilometers.

Determining the roadmap and basic strategies in line with the Turkey's Energy Ministry's "National Energy and Mining Policy", Turkish Petroleum conducted intensive studies with Barbaros Hayreddin Pasa seismic vessel in order to reveal the hydrocarbon potential of the Mediterranean and Black Sea.

The company continues its drilling efforts in shallow and deep seas in the light of the seismic data. The deep-sea drilling operation was started on 30 October 2018 in Alanya-1 well with the Fatih vessel, which has a drilling capability up to 12,200 meters depth.

The Fatih vessel is currently continuing its second drilling in the area called Finike-1.

In shallow seas, a platform was installed in the North Erdemli-1 location within the license areas in the Eastern Mediterranean in November 2018 and drilling operations started.

In addition, Turkey's second drilling vessel Yavuz is scheduled to begin its first drilling in early July on the field that is licensed by Turkish Republic of Northern Cyprus (TRNC).

- Oil and gas production

Turkish Petroleum increased its crude oil production by 10% in 2018 compared to 2017. 13.5 million barrels of crude oil produced last year, which is also the highest production volume of the last 17 years.

In this period, natural gas production increased by 33% and reached the highest level of the last 10 years. 405 million cubic meters of natural gas was produced last year.

The company is involved in 13 projects in 5 countries to further contribute to the national economy and reduce energy imports. The company continues its operations in Azerbaijan, Iraq, TRNC, Russia and Afghanistan.

Meanwhile last year, the company's profit was recorded as 5.7 billion Turkish Liras ($970 million).