Project Profile

Location: Thrace basin, Turkey
Block: AR/MRS/3913
Reserves: 21.2 bcf of gas
Discovery: Q2-Q3 2013
Start-up Year: December 2017

The Poyraz Ridge gas field is located in the AR/MRS/3913 block (the Ortakoy block) in the Thrace basin in the Eropean side of Turkey. The field was discovered in Q2-Q3 2013 with the drilling of the Poyraz-1ST and Poyraz-2 wells respectively and further appraised in 2014 with the Poyraz West-1 well. The field contains Proved plus Probable reserves of 21.2 billion cubic feet of gas. The majority of the 2P reserves in the Poyraz Ridge field are attributed to the Eocene-age Ceylan formation sands and the Sogucak formation carbonates. D&M evaluated the block-wide Prospective Resources associated with the Eocene (and Miocene) formations within a series of en-echelon fold-dominated structures similar to the Poyraz Ridge field. The NW Poyraz Ridge prospect and the Poyraz Ridge footwall prospect comprise 16,547 mmcf and 2,307 mmcf respectively of this total risk adjusted estimate. The NW Poyraz Ridge prospect, a similar fold structure to the Poyraz Ridge field, is located only 2.7 km north of the Poyraz Ridge field and the Poyraz Ridge footwall prospect is comprised of a down thrown fault block immediately adjacent to the Poyraz Ridge field. Marsa anticipates drilling both these prospects in 2015. Condor Petroleum constructed the Poyraz Ridge 15 million square cubic feet a day (mmscfd) gas processing facility in Turkey, with the first gas produced in mid-2017.

Operator:

Condor Petroleum: 100% interest