Valeura gets Turkish licenses near Iraq, Syria

By OGJ editors

Turkey’s General Directorate of Petroleum Affairs has awarded Valeura Energy Inc., Calgary, 100% working interest in two exploration licenses in southeastern Turkey.

Bostanci License 4985 covers 123,051 acres at the juncture of the Syria and northern Iraq borders, and Karakilise License 5052 covers 122,965 acres near the city of Diyarbakir.

On Bostanci, an area previously known as License 2600, Valeura and partners had spudded the Bostanci-1 well in April 2011 as a farm-in commitment well before the license was canceled for failure to meet the petroleum district's spudding deadline. Valeura reapplied for License 4985 only. Under a prebidding arrangement, Exile Resources Inc., Calgary, the other funding partner in the Bostanci-1 well, has a right to a 50% participating interest in the license.

Bostanci-1, along Iraq’s northern border, was temporarily suspended at 508 m with surface casing set. Valeura believes that the well could be reentered to continue drilling. The primary exploration target at the time was the Cretaceous Mardin Group at 3,300 m.

The Bostanci drillsite is 35 km west of Tawke field in northern Iraq and 12 km northeast of Karatchok field in Syria. Over the next few months, Valeura will update its assessment of the Bostanci prospect and the timing, cost, and funding of an initial exploration well.

The Karakilise license is contiguous with licenses 2674 and 2677, in which Valeura has a 27.5% working interest.

The area is prospective for heavy oil in the Mardin Group and light oil in the Bedinan formation with a number of discoveries in the area. More recently there has been growing interest in unconventional oil and gas exploitation in the Silurian Dadas shale source rock that sits above the Bedinan. A number of companies are active in the area, including most recently Shell which has farmed in on several licenses held by the Turkish national oil company to the north and contiguous with License 2677.

Valeura has been active in this area since late 2010 and has shot 227 km of 2D seismic, carried out a successful well recompletion in the Mardin Group in the Karakilise-1 well on License 2677, and drilled a Mardin Group and Bedinan formation discovery in the Altinakar-1 well on License 2674.

Related Articles

US Forest Service takes no stance on fracturing in national forest

12/12/2014

The US Forest Service has dropped a proposal that would have banned hydraulic fracturing in the George Washington National Forest.

Weak crude prices could threaten Bakken production growth

12/12/2014 Bakken shale production set another record in August, but weakening crude prices and flaring reduction efforts threatened to temper production grow...

BHI: US rig count forced down by large losses in Texas

12/12/2014 Forced down by large losses in Texas and specifically the Permian basin, the US drilling rig count plummeted 27 units to settle at 1,893 rigs worki...

Husky reports start of steam operations at Sunrise oil sands project

12/12/2014

Husky Energy, Calgary, reported the start of steam operations at the in situ Sunrise Oil Sands Project in northeastern Alberta.

TAEP: TPI still peaking, but ‘contraction unavoidable’ as oil prices fall

12/12/2014 The Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators released by the Texas Alliance of Ene...

Independent assessment hikes Husky heavy oil resources

12/12/2014 Husky Energy Inc., Calgary, says an independent assessment increases its heavy oil resources in the Lloydminster region of Alberta and Saskatchewan.

US needs more data before ending crude export ban, House panel told

12/11/2014 Much more environmental impact information is needed before the US can reasonably remove crude oil export limits, a witness told a House Energy and...

BOEM raises offshore oil spill liability limit to $134 million

12/11/2014 The US Bureau of Ocean Energy Management increased the liability limit for oil-spill related damages from offshore operations to $134 million from ...

Stone drills successful Utica exploration well

12/10/2014 Stone Energy Corp., Lafayette, La., reported that its Pribble 6HU well in Wetzel County, W.Va., flowed from a 3,605-ft lateral at 30 MMcfd during t...

White Papers

AVEVA NET Accesses and Manages the Digital Asset

Global demand for new process plants, power plants and infrastructure is increasing steadily with the ...
Sponsored by

AVEVA’s Approach for the Digital Asset

To meet the requirements for leaner project execution and more efficient operations while transferring...
Sponsored by

Diversification - the technology aspects

In tough times, businesses seek to diversify into adjacent markets or to apply their skills and resour...
Sponsored by

Engineering & Design for Lean Construction

Modern marketing rhetoric claims that, in order to cut out expensive costs and reduce risks during the...
Sponsored by

Object Lessons - Why control of engineering design at the object level is essential for efficient project execution

Whatever the task, there is usually only one way to do it right and many more to do it wrong. In the c...
Sponsored by

Plant Design for Lean Construction - at your fingertips

One area which can provide improvements to the adoption of Lean principles is the application of mobil...
Sponsored by

How to Keep Your Mud System Vibrator Hose from Getting Hammered to Death

To prevent the vibrating hoses on your oilfield mud circulation systems from failing, you must examine...
Sponsored by

Duty of Care

Good corporate social responsibility means implementing effective workplace health and safety measures...
Sponsored by

Available Webcasts


On Demand

Optimizing your asset management practices to mitigate the effects of a down market

Thu, Dec 11, 2014

The oil and gas market is in constant flux, and as the price of BOE (Barrel of Oil Equivalent) goes down it is increasingly important to optimize your asset management strategy to stay afloat.  Attend this webinar to learn how developing a solid asset management plan can help your company mitigate costs in any market.

register:WEBCAST


Parylene Conformal Coatings for the Oil & Gas Industry

Thu, Nov 20, 2014

In this concise 30-minute webinar, participants have an opportunity to learn more about how Parylene coatings are applied, their features, and the value they add to devices and components.

register:WEBCAST


Utilizing Predictive Analytics to Optimize Productivity in Oil & Gas Operations

Tue, Nov 18, 2014

Join IBM on Tuesday, November 18 @ 1pm CST to explore how Predictive Analytics can help your organization maximize productivity, operational performance & associated processes to drive enterprise wide productivity and profitability.

register:WEBCAST


US HYDROCARBON EXPORTS Part 3 — LNG

Fri, Nov 14, 2014

US LNG Exports, the third in a trilogy of webcasts focusing on the broad topic of US Hydrocarbon Exports.

A discussion of the problems and potential for the export of US-produced liquefied natural gas.

These and other topics will be discussed, with the latest thoughts on U.S. LNG export policy.

register:WEBCAST


Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected