Turkey Oil and Gas Report - Business Monitor International - Industry Reports

Turkey Oil and Gas Report

Turkey Oil and Gas Report - Business Monitor International - Industry Reports
Turkey Oil and Gas Report
Published Sep 03, 2016
76 pages — Published Sep 03, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

Oil reserves, estimated at ---mn barrels (bbl) in ---- by the Energy Information Administration (EIA), are capable of some limited near-term growth if discoveries are made from current exploration programmes. Furthermore, improved and remodelled seismic data are also helping to add to reserves as volumes at mature fields are recalculated. ...The EIA estimated that technically recoverable resources in the Dadas shale formation are -.-bn barrels of oil and ---bcm of gas. The prospectivity is therefore enormous under any standards (especially for a minnow producer like Turkey), hence the government s eagerness to explore the potential. TransAtlantic Petroleum is focusing its oil exploration efforts in the south east of Turkey within the Dadas shale delineation, as well as on the border with Syria. ...In ----, the company drilled -- wells in Turkey, though only completed three exploration wells in Q--- and drilled two further wells in Q---. Three further wells are targeted on the Bahar and Molla fields - totalling around eight wells for ----, over half of ----.

...The main trends and developments we highlight for Turkey s oil and gas sector are: We have upgraded our refined fuels consumption forecast for Turkey on the back of a significant expansion in airport capacity boosting jet fuel demand and strong construction growth driving up diesel demand. We expect Turkey to consume -.--mn barrels per day (b/d) of refined fuels by ----, a ---,--- b/d increase from our original forecast of ---,--- b/d. ...We expect Turkey to consume -.--mn barrels per day (b/d) of refined fuels by ----, a ---,--- b/d increase from our original forecast of ---,--- b/d. The bulk of this increase has come from the inclusion of the Istanbul New Airport into our forecast, which in its first phase will have a capacity of --mn people annually and reaching up to ---mn people per year in the second phase. Upon completion the airport will be the largest in Europe and will considerably boost demand of jet fuel as Turkey looks to grow its role as a global aviation hub, competing with the likes of the UAE for east-west airline traffic. ...� The failed coup in July has not altered SOCAR s investment plans for Turkey, committing to getting the Star refinery online by ----. By catering to the domestic deficit in diesel and jet fuel, the Star refinery will be Europe s only newly built facility in the next five years.

...The fall in oil prices has set back exploration in Turkey as companies re-assess investment plans in a weaker cost environment. We are closely monitoring the developments in exploration and production across the three main basins: Thrace Basin, Dadas shale and the Black Sea. ...

  
Source:
Document ID
1748-4316
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Turkey Oil and Gas Report" Sep 03, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Turkey-Oil-and-Gas-Report-2026-517>
  
APA:
Business Monitor International - Industry Reports. (2016). Turkey Oil and Gas Report Sep 03, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Turkey-Oil-and-Gas-Report-2026-517>
  
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