Turkish Petroleum Discovered 1 billion barrels of oil - Enerji news from Türkiye!

TPAO has made a gigantic discovery of 1 Billion Bbls OIP in the exploration well Şehit Aybüke Yalçın-1 in the frontier Cudi-Gabar Area.

TPAO has made a gigantic discovery of 1 Billion Bbls OIP in the exploration well Şehit Aybüke Yalçın-1 in the frontier Cudi-Gabar Area.

- The discovery adds approx. 1 billion Bbls OIP.

- Appraisal wells and well tests confirmed by TPAO CEO.

- New exploration wells planned in H2 2023.

Şehit Aybüke Yalçın-1 exploration well is drilled 20km northwest of Cizre and 7km northeast of Şehit Esma Çevik field which now produces approximately 10.000 bbls/day and became the highest producing onshore field of TPAO in a very short period of time. Şehit Aybüke Yalçın-1 was drilled to 2771 meters of total depth and encountered more than 162 meters of light oil-bearing reservoir (41° API) as of yet in Cretaceous Carbonates.

The new discovery has an estimated OIP of 1 billion bbls and it represents the largest oil discovery onshore in Türkiye with further prospects to be explored in the frontier Cudi-Gabar area. This exploration success is expected to give a major boost to Şırnak's economic growth in the coming decades and to help achieving Türkiye's objective of energy independence. Melih Han Bilgin, TPAO's Chairman and CEO said "This is the largest onshore discovery in Türkiye and gives TPAO a chance to build a new regional office in Şırnak. Developing Şehit Aybüke Yalçın and Şehit Esma Çevik

with further discoveries will not only channel capital to stimulate economy in Şırnak, but also let TPAO built a state-of-the-art oil refinery to unlock the potential in the region including the fields in neighboring countries. TPAO will drill back-to-back appraisal wells and conduct well tests to construct the full-field development plan until the end of 2023. Test production from Şehit Aybüke Yalçın is already started as of end of April 2023 and the production target is set to 100.000 bbls/day, boosting oil production in Türkiye by more than twofold.

Additional exploration wells are to be spudded in Cudi-Gabar area in H2-2023. A FEED agreement has already been signed for the pipeline".

TPAO holds 100 percent interest in blocks AR/TPO/K/M48-D2,D3,D4 and AR/TPO/K/N48-A1,A3,A4.

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