OIL AND GAS OPPORTUNITIES IN TURKEY Lee Muncy Vice President of Geosciences September 15, 2014
ESTIMATES OF PROVED & UNDISCOVERED OIL & GAS IN TURKEY Oil & Gas Journal estimates 295 MMBO + 241 BCFG of proved reserves as of January 1, 2014 Onshore USGS estimates 438 MMBO undiscovered in the southern onshore portion of the…
ESTIMATES OF PROVED & UNDISCOVERED OIL & GAS IN TURKEY My thoughts on the previous slide Very Conservative Estimates Typically reserve estimates in underexplored but proven productive countries are conservative Many unknowns such…
WHY ARE THERE OPPORTUNITIES IN TURKEY Complex geology Most wells were drilled and fields found before the onset of technological improvements developed in the last few years Turkey is underexplored and to some extent unexplored…
COMPLEX GEOLOGY OF TURKEY The geology of Turkey is not complex, it is just less understood comment from Malone Mitchell, CEO of TransAtlantic Petroleum, at 2014 Turkey Oil & Gas Summit. I agree, it isnt well understood However, I…
COMPLEX GEOLOGY OF TURKEY Turkey is located at the junction of four tectonic plates: Anatolian, African, Eurasian, & Arabian 7
COMPLEX GEOLOGY OF TURKEY With continual collision of the African and Eurasian plates, the Anatolian plate (Turkey) moves westward between two large strike-slip faults to further complicate the geology. Escape Tectonics 8
COMPLEX GEOLOGY OF TURKEY Just looking at this geologic map of Turkey makes one wonder How much more complicated can it get 9
COMPLEX GEOLOGY OF TURKEY Solve the geologic puzzle and undoubtedly you will find new areas for exploration 10
COMPLEX GEOLOGY OF TURKEY A better understanding about the geology creates opportunities to find new deposits of oil & gas Modern data will help image complex structural areas previously not considered prospective utilizing older…
COMPLEX GEOLOGY OF TURKEY Data was lacking or of poor quality when much of Turkey was explored The geology is complex and a more detailed look will identify undrilled compartments within existing fields or untested areas offsetting…
SUMMARY OF COMPLEX GEOLOGY OF TURKEY I seriously doubt that we will ever totally solve the geologic puzzle in our lifetime I do think that we can dramatically improve our understanding of the geology With that improved understanding…
FACTS ABOUT OIL & GAS EXPLORATION IN TURKEY Turkey is a relatively unexplored or underexplored country Oil & gas exploration started in 1934 Oil was first discovered in 1940 in what is the Raman Field in SE Turkey Since then only a…
WELLS DRILLED IN TURKEY BY DECADE OVER THE LAST 50 YEARS A total of 4,438 wells have been drilled in Turkey; 35% of them since 2000. Drilled Wells 1123 1200 883 787 1000 599 800 422 600 213 400 200 0 1954-1961…
TYPE OF WELLS DRILLED IN TURKEY OVER THE LAST 50 YEARS Total Wells Drilled 40% Exploration 1745 1751 39% Production 18% Appraisal 2% Geological Investigation 1% Injection 822 88 32 Exploration Appraisal Injection…
FACTS ABOUT OIL & GAS EXPLORATION IN TURKEY When you compare Turkeys exploration history to that of other oil producing regions it lags behind those areas considerably Since Turkey is slightly larger than Texas lets compare the…
COMPARISON OF EXPLORATION IN TURKEY TO TEXAS Only 4,438 wells drilled in Turkey through the end of 2013 When was the 4,438th well drilled in Texas Difficult to find data for Texas before 1935 However, according to TexasDrilling.com…
COMPARISON OF EXPLORATION IN TURKEY TO TEXAS My best guess is that the 4,438th well was drilled in Texas probably sometime before 1900 Think about the number of wells drilled after 1900 and the amount of oil & gas found after…
COMPARISON OF EXPLORATION IN TURKEY TO TEXAS So the question is.. Who here would have liked the opportunity to enter the oil & gas business in Texas in 1900 or 1919 or even 1935 More than 59 billion barrels of oil produced in…
IS TURKEY UNDEREXPLORED Most definitely Some folks may even think that Turkey is unexplored There are large portions of the country that have not been drilled Since 1954 only 20% of onshore basins and 1% of the offshore basins have…
IS TURKEY UNDEREXPLORED Early exploration targeted surface anticlines and utilized old 2D seismic Of the 20% of the onshore basins that have been explored, about 72% of the exploration has occurred in SE Turkey with 21% in the Thrace…
SEISMIC SURVEYS IN TURKEY: 1943-2013 Source: UG Energy Land seismic: 180,000-km 2D and 15,000-sqkm 3D Updated by Sakallioglu (Jan 2014) Offshore seismic: 160,000-km 2D and 20,000-sqkm 3D 23
2D SEISMIC SHOT IN TURKEY BY DECADE 2D Seismic 64.6 70.0 60.0 50.0 29.8 Miles x 1000 40.0 28.6 30.0 17.4 15.5 11.8 11.2 9.3 20.0 10.6 9.9 0.0 3.7 10.0 0.0 1954-1961 1962-1971 1972-1981 1982-1991 1992-2001…
3D SEISMIC SHOT IN TURKEY BY DECADE 3D Seismic 5000.0 4324.3 4000.0 2322.8 Acres x 1000 3000.0 2000.0 568.3 1000.0 0.0 0.0 0.0 0.0 0.0 148.3 148.3 0.0 0.0 0.0 1954-1961 1962-1971 1972-1981 1982-1991 1992-2001…
HOW DO WE IMPROVE OUR UNDERSTANDING OF THE GEOLOGY OF TURKEY The primary tool is better quality seismic, acquired using longer offsets to image the complex structures 3D seismic data is preferred due to the potential for numerous…
OLDER 2D AND 3D SEISMIC DATA Most of the fields found in the past and fields currently producing in Turkey were found prior to the availability of modern seismic data. The data quality was poor, especially in complex structural areas…
MODERN SEISMIC DATA Modern data utilizing longer offsets allow imaging of steeper dips on the flanks of structures as well as intermediate fault blocks and sub-thrust features. All of which could be prospective The resolution of…
INTERPRETATTION USING 2D VS 3D SEISMIC DATA 3D seismic data is preferred 2012 2D Seismic Data 2013 3D Seismic Data Bahar-2 Bahar-1 Bahar Field Bedinan Structure Map 29
DRILLING AND COMPLETION TECHNOLOGY The application of new technology and EOR techniques will allow companies to drill and complete wells more efficiently Directional and horizontal drilling allows access to areas previously…
DRILLING AND COMPLETION TECHNOLOGY Directional/Horizontal Drilling Access to previously unattainable areas due to cultural or topographic difficulties such as buildings, lakes, waste sites, etc. Ability to drill multiple wells…
DRILLING AND COMPLETION TECHNOLOGY Completion Techniques Advances allow for opening up more rock resulting in higher daily production rates and higher ultimate recoveries. These include: Hydraulic Fracturing Multi-Stage…
DRILLING AND COMPLETION TECHNOLOGY Enhanced Oil Recovery Allows for extension of the life of the field along with greater ultimate recovery of reserves. These include: Waterflood CO2 Flood Polymer Injection 33 elmo-22H1 well…
SUMMARY OF OPPORTUNITIES IN TURKEY Offshore Only 1% has been explored Onshore Only 20% of the onshore basins have been explored Numerous plays yet to be made and not many deep tests Geology not well understood with lots of room…
THE END (OF THIS TALK) BUT, weve only begun to explore for and develop the oil & gas resources of Turkey 35 Bahar Field in southeastern Turkey.
CONTACT Taylor C. Beach Director of Investor Relations (214) 265-4746 Taylor.Beachtapcor.com www.TransAtlanticPetroleum.com 36
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