Project Profile
Value: Undisclosed
Location: Near the centre and deepest part of the Thrace Basin, northwest Turkey
Area: 118,598 gross acres (185 sections or 185 square miles)
Reserves: unknown
Start-up Year: -
The Banarli Licence 5104, which was awarded to Valeura by the GeneralDirectorate of Petroleum Affairs of the Republic of Turkey, has a four-year initial term and covers an area of 118,598 gross acres (185 sections or 185 square miles) located near the centre and deepest part of the Thrace Basin. The licence is ideally located to test for a potential basin-centre gas play and to explore for unconventional tight gas and shale gas in those areas where the Mezardere shale source rocks are at depths below 3,000 metres and may be at pressures and temperatures sufficient to create an active\"kitchen\" for hydrocarbon generation. The overlying Ergene, Danismen and Osmancik formations, which are also more deeply buried across the licence, may also be prospective for conventional gas exploration.Under the Banarli licence terms, a well will need to be spudded within the first year to keep the licence in good stead. The corporation plans to initially carry out a targeted 2D seismic program to complement the existing 2D seismic coverage on the licence. The licence is unexplored with only two relatively shallow wells drilled, of which the latest, Karaca-1, was plugged and abandoned at a depth of 1,026 metres in November 2010.
Operators:
Valeura Energy Inc: Operator with 100% interest (in the shallow formations)
Statoil: 50% interest (in the deep formations below approximately 2,500 metres)