RE:Turkey To Increase Onshore oil n gas drilling in 2023The Black Sea gas discovery of 19 TCF is heavily touted in the Turkish press as a game changer....which is true but does not change the fact that Turkey will remain a major gas importer.
And, very expensive to bring to refineries ashore
Onshore in Deep Thrace , Valeura sits on 19.7 TCF of natural gas , equivalent to 3.3 billion barrels of oil equivalent .
Any discovery can be immediately tied in to existing pipeline infrastructure .
EOR is about 20% , so over 600 million barrels of oil equivalent which @$100 per boe is $6 trillion in recovered natural gas.
Like Leduc in 1949, Deep Thrace needs only further refinement of sweet spot exploration models and application of rapidly advancing drilling and completing techniques .
Natural gas is $31 USD MMcf in Turkey....$185 US per barrel of oil equivalent .
Any significant first well discovery in Deep Thrace will quickly pay for itself .
So, the stage is set with absolutely perfect timing for a Deep Thrace deal to be consumated and TPAO is more likely as any other partner, given Ergodan's penchant for taking credit.