Project Profile
Location: Black Sea, offshore Turkey
Current gas output per day: 7.3mscf (2009)
Year Discovered: 2004
Year Production Started: 2008
The Ayazli gas field is located in the Black Sea, offshore Turkey. It was discovered in 2004 and produces through two wells. Turkiye Petrolleri Anonim Ortakligi is the operator of the field and holds the majority stake (51%) in the field. Stratic Energy acquired a 12.25% stake in January 2005. The company held the stake until it sold its entire Turkish businesses to a group of Turkish companies in May 2010. The stake was sold as part of the Stratic Energy\'s restructuring plan to regain financial strength following the international economic crisis.
Toreador Turkey, which was acquired by Tiway Oil in October 2009, owns the remaining 36.75% stake.
The development of the Ayazli gas field started in 2004 as part of the South Akcakoca Sub Basin Development project in Turkey. The field came onstream in the first phase of the Sub Basin development project.
Operators:
TPAO: Operator with 51% interest
Tiway Oil AS: 36.75% interest
Stratic Energy: 12.25% interest